Mackenzie Financial Corp increases its position in Adeia Inc. (NASDAQ:ADEA)

Mackenzie Financial Corp increased its stake in Adeia Inc. (NASDAQ:ADEA – Free Report) by 24.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,340 shares of the company’s stock after purchasing an additional 13,290 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Adeia worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Adeia by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,467,711 shares of the company’s stock valued at $30,575,000 after purchasing an additional 25,846 shares during the period. Stephens Inc. AR raised its position in shares of Adeia by 32.4% in the 4th quarter. Stephens Inc. AR now owns 502,537 shares of the company’s stock worth $6,226,000 after purchasing an additional 123,040 shares during the last quarter. Wellington Management Group LLP boosted its stake in Adeia by 16.1% in the 4th quarter. Wellington Management Group LLP now owns 576,745 shares of the company’s stock valued at $7,146,000 after purchasing an additional 80,146 shares during the period. Vanguard Group Inc. raised its holdings in shares of Adeia by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 13,985,101 shares of the company’s stock valued at $173,275,000 after purchasing an additional 43,135 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Adeia by 24.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,269 shares of the company’s stock worth $276,000 after acquiring an additional 4,315 shares during the period. 97.36% of shares are currently owned by institutional investors.

Performance Price Adeia

Shares of ADEA stock opened at $11.84 on Friday. The stock’s 50-day moving average is $11.70 and its 200-day moving average is $11.25. Adeia Inc. has a 1 year low of $8.11 and a 1 year high of $13.39. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.00, and a quick ratio of 3.00. The company has a market cap of $1.29 billion, a P/E ratio of 34.82 and a beta of 1.45.

Adeia (NASDAQ:ADEA – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $87.35 million for the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a net margin of 12.87% and a return on equity of 33.28%. Research analysts predict that Adeia Inc. will post 1.18 earnings per share for the current fiscal year.

Now they announce dividends

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.05 per share. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, August 27th. Adeia’s payout ratio is currently 58.83%.

Analyst upgrades and downgrades

Several equities research analysts recently commented on ADEA shares. Rosenblatt Securities restated a “buy” rating and issued a $15.00 target price on shares of Adeia in a report on Thursday, June 20th. BWS Financial reissued a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Thursday, September 26th.

See the latest stock report on Adeia

Adeia company profile

(Free report)

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 in various markets, including distributors of multichannel video programming, including cable, satellite and telecommunications providers that aggregate and distribute linear content over networks, and television providers that aggregate and distribute linear content over networks broadband; leading video service providers and social media companies, such as providers of subscription and advertising-supported video-on-demand streaming services, as well as content providers, networks and media companies.

See Also

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