Adeia Inc. (NASDAQ:ADEA) Short Interest Update

Adeia Inc. (NASDAQ:ADEA) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, a growth of 11.4% from the October 31st total of 3,080,000 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily trading volume, of 433,700 shares, the days-to-cover ratio is presently 7.9 days.

Institutional Investors Weigh In On Adeia

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of Adeia by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock worth $1,185,000 after acquiring an additional 17,905 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in Adeia in the third quarter valued at $190,000. Geode Capital Management LLC increased its stake in Adeia by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after buying an additional 78,135 shares during the last quarter. Barclays PLC lifted its position in Adeia by 51.9% during the 3rd quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after buying an additional 78,276 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of Adeia by 31.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 63,819 shares of the company’s stock worth $760,000 after buying an additional 15,314 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $12.45 on Wednesday. The company has a fifty day moving average price of $12.12 and a 200 day moving average price of $11.73. The firm has a market cap of $1.36 billion, a PE ratio of 34.58 and a beta of 1.42. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia has a 1-year low of $9.40 and a 1-year high of $14.24.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.61%. Adeia’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BWS Financial reissued a “buy” rating and issued a $16.00 target price on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a research report on Friday, November 8th.

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.