BWS Financial Has Bullish Outlook for Adeia FY2024 Earnings

Adeia Inc. (NASDAQ:ADEA - Free Report) - Equities research analysts at BWS Financial lifted their FY2024 EPS estimates for shares of Adeia in a research note issued on Wednesday, December 4th. BWS Financial analyst H. Khorsand now expects that the company will earn $1.10 per share for the year, up from their previous estimate of $0.99. 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 $0.45 EPS.

Separately, Rosenblatt Securities restated a "buy" rating and set a $15.00 target price on shares of Adeia in a report on Friday, November 8th.

Adeia Price Performance

Shares of NASDAQ ADEA remained flat at $13.36 during mid-day trading on Monday. 543,217 shares of the stock traded hands, compared to its average volume of 481,889. The stock has a market capitalization of $1.46 billion, a PE ratio of 37.11 and a beta of 1.42. The company has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $11.78. 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 one year low of $9.68 and a one year high of $14.24.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.50%. Adeia's dividend payout ratio (DPR) is presently 55.56%.

Institutional Trading of Adeia

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Adeia during the 2nd quarter valued at $47,000. Algert Global LLC purchased a new position in shares of Adeia during the second quarter worth about $122,000. Hohimer Wealth Management LLC purchased a new position in shares of Adeia during the third quarter worth about $190,000. Seizert Capital Partners LLC purchased a new position in shares of Adeia during the third quarter worth about $197,000. Finally, 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. Institutional investors and hedge funds own 97.36% of the company's stock.

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.