BWS Financial Has Negative Outlook for Adeia FY2024 Earnings

Adeia Inc. (NASDAQ:ADEA - Free Report) - BWS Financial lowered their FY2024 earnings estimates for shares of Adeia in a research note issued on Monday, January 13th. BWS Financial analyst H. Khorsand now anticipates that the company will post earnings of $1.00 per share 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 price target on Adeia from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, December 12th.

Adeia Price Performance

Adeia stock traded down $0.15 during midday trading on Thursday, hitting $12.76. 402,805 shares of the company's stock were exchanged, compared to its average volume of 542,331. The company has a market cap of $1.39 billion, a P/E ratio of 35.44 and a beta of 1.39. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a 50-day moving average price of $13.05 and a two-hundred day moving average price of $12.24. Adeia has a 52-week low of $9.68 and a 52-week high of $14.75.

Institutional Trading of Adeia

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

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia's dividend payout ratio (DPR) is currently 55.56%.

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.