Carmel Capital Partners LLC Sells 14,908 Shares of Adeia Inc. (NASDAQ:ADEA)

Carmel Capital Partners LLC trimmed its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 55.9% in the fourth quarter, HoldingsChannel reports. The firm owned 11,743 shares of the company’s stock after selling 14,908 shares during the quarter. Carmel Capital Partners LLC’s holdings in Adeia were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ADEA. KBC Group NV lifted its holdings in shares of Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after buying an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of Adeia during the fourth quarter worth $142,000. Hohimer Wealth Management LLC acquired a new stake in shares of Adeia during the third quarter worth $190,000. Seizert Capital Partners LLC acquired a new stake in shares of Adeia during the third quarter worth $197,000. Finally, Zacks Investment Management lifted its holdings in shares of Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after buying an additional 5,902 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Up 0.9 %

ADEA stock opened at $15.20 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of 26.67 and a beta of 1.37. The business has a 50-day simple moving average of $13.84 and a 200 day simple moving average of $12.89. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $17.46. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts anticipate that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, March 10th. Adeia’s payout ratio is 35.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Maxim Group lifted their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Adeia in a research note on Friday, February 28th. Finally, BWS Financial boosted their price target on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.