In yesterday’s Wall Street session, Adeia Inc. (NASDAQ:ADEA) shares traded at $10.54, down -2.50% from the previous session.
ADEA stock price is now 2.37% away from the 50-day moving average and 64.59% away from the 200-day moving average. The market capitalization of the company currently stands at $1.11B.
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Insiders disposed of 132,574 shares of company stock worth roughly $1.4 million over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ADEA stock. A new stake in Adeia Inc. shares was purchased by HILLSDALE INVESTMENT MANAGEMENT INC. during the first quarter worth $2,786,000. STATE OF NEW JERSEY COMMON PENSION FUND D invested $1,580,000 in shares of ADEA during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in Adeia Inc. valued at approximately $1,240,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in ADEA for approximately $495,000. RITHOLTZ WEALTH MANAGEMENT purchased a new stake in ADEA valued at around $299,000 in the second quarter. In total, there are 328 active investors with 94.50% ownership of the company’s stock.
On Thursday morning Adeia Inc. (NASDAQ: ADEA) stock kicked off with the opening price of $10.73. During the past 12 months, Adeia Inc. has had a low of $3.54 and a high of $11.85. As of last week, the company has a debt-to-equity ratio of 0.79, a current ratio of 2.50, and a quick ratio of 2.40. The fifty day moving average price for ADEA is $10.28 and a two-hundred day moving average price translates $6.43 for the stock.
The latest earnings results from Adeia Inc. (NASDAQ: ADEA) was released for Jun, 2022. According to the Software – Application Company, earnings per share came in at $0.52, beating analysts’ expectations of $0.4 by 0.12. This compares to -$0.44 EPS in the same period last year. The net profit margin was -41.90% and return on equity was -30.30% for ADEA. The company reported revenue of $210.94 million for the quarter, compared to $219.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.85 percent. For the current quarter, analysts expect ADEA to generate $96.17M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/21/2022. Investors who held shares on 11/30/2022 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 1.90% percent yield. There was an ex-dividend date of 11/29/2022 for this dividend.
Adeia Inc.(ADEA) Company Profile
Adeia Inc., together with its subsidiaries, operates as a consumer and entertainment product/solutions licensing company worldwide. It licenses its innovations to companies in the entertainment industry under the Adeia brand. 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, social media, and other new media companies, such as subscription video-on-demand service providers and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, DVRs, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices. The company was incorporated in 2019 and is headquartered in San Jose, California.
