Saxon Interests Inc. Invests $183,000 in Adeia Inc. (NASDAQ:ADEA)

Saxon Interests Inc. bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the fourth quarter, Holdings Channel reports. The fund bought 14,753 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Royce & Associates LP lifted its holdings in shares of Adeia by 22.6% in the 1st quarter. Royce & Associates LP now owns 1,052,203 shares of the company’s stock valued at $9,323,000 after buying an additional 194,187 shares during the period. Swiss National Bank purchased a new stake in Adeia in the 1st quarter worth approximately $2,009,000. Credit Suisse AG acquired a new stake in shares of Adeia during the 1st quarter worth approximately $790,000. Citigroup Inc. purchased a new position in shares of Adeia during the 1st quarter valued at approximately $557,000. Finally, Rhumbline Advisers acquired a new position in shares of Adeia in the 1st quarter valued at $3,075,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Trading Up 1.0 %

ADEA traded up $0.11 on Thursday, hitting $10.92. The company had a trading volume of 573,842 shares, compared to its average volume of 550,271. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46. The firm has a market cap of $1.17 billion, a P/E ratio of 18.51 and a beta of 1.43. The company’s fifty day moving average price is $11.66 and its 200 day moving average price is $10.62. Adeia Inc. has a 1 year low of $7.12 and a 1 year high of $13.39.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $86.87 million during the quarter, compared to analyst estimates of $89.23 million. Adeia had a net margin of 17.33% and a return on equity of 42.74%. As a group, equities analysts expect that Adeia Inc. will post 1.18 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 1.83%. Adeia’s dividend payout ratio is 33.90%.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities started coverage on shares of Adeia in a report on Friday, February 23rd. They issued a “buy” rating and a $15.00 price objective for the company.

About Adeia

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.