FY2024 Earnings Estimate for Adeia Issued By BWS Financial

Adeia Inc. (NASDAQ:ADEA) – Stock analysts at BWS Financial cut their FY2024 EPS estimates for shares of Adeia in a research note issued to investors on Monday, January 13th. BWS Financial analyst H. Khorsand now forecasts that the company will post earnings per share of $1.00 for the year, down from their prior forecast of $1.10. BWS Financial currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for Adeia’s current full-year earnings is $1.10 per share. BWS Financial also issued estimates for Adeia’s Q4 2024 earnings at $0.35 EPS.

Separately, Rosenblatt Securities lifted their target price on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Adeia Stock Up 0.3 %

Shares of ADEA stock opened at $12.91 on Thursday. The stock has a market cap of $1.41 billion, a P/E ratio of 35.86 and a beta of 1.39. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a 50 day simple moving average of $13.08 and a two-hundred day simple moving average of $12.24. Adeia has a 12 month low of $9.68 and a 12 month high of $14.75.

Hedge Funds Weigh In On Adeia

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC acquired a new stake in Adeia in the second quarter valued at approximately $122,000. Hohimer Wealth Management LLC purchased a new position in Adeia during the 3rd quarter worth approximately $190,000. Seizert Capital Partners LLC acquired a new position in Adeia during the third quarter valued at $197,000. Zacks Investment Management lifted its holdings in shares of Adeia by 51.5% in the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after buying an additional 5,902 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Adeia in the 3rd quarter worth approximately $253,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.55%. Adeia’s payout ratio is currently 55.56%.

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.