Kennedy Capital Management LLC Sells 5,876 Shares of Adeia Inc. (NASDAQ:ADEA)

Kennedy Capital Management LLC cut its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 396,482 shares of the company’s stock after selling 5,876 shares during the period. Kennedy Capital Management LLC’s holdings in Adeia were worth $4,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Highlander Capital Management LLC lifted its holdings in shares of Adeia by 267.3% in the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock valued at $26,000 after purchasing an additional 1,518 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Adeia by 55.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock valued at $45,000 after buying an additional 1,291 shares during the last quarter. Aristides Capital LLC acquired a new stake in shares of Adeia in the first quarter valued at approximately $213,000. O Shaughnessy Asset Management LLC lifted its position in shares of Adeia by 35.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after buying an additional 5,316 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Adeia by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after buying an additional 1,483 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADEA shares. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Adeia in a report on Thursday, June 20th. BWS Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Tuesday, July 16th.

Adeia Price Performance

ADEA stock traded down $0.03 during midday trading on Tuesday, reaching $11.55. 411,098 shares of the stock were exchanged, compared to its average volume of 502,930. The stock has a market capitalization of $1.25 billion, a PE ratio of 33.97 and a beta of 1.47. Adeia Inc. has a 52 week low of $8.11 and a 52 week high of $13.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a fifty day moving average price of $11.39 and a 200 day moving average price of $11.26.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $83.41 million for the quarter, compared to the consensus estimate of $83.55 million. Adeia had a return on equity of 33.89% and a net margin of 11.06%. As a group, analysts expect that Adeia Inc. will post 1.2 EPS for the current fiscal year.

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.