BWS Financial Has Positive Outlook for Adeia FY2024 Earnings

Adeia Inc. (NASDAQ:ADEA) – Investment analysts at BWS Financial upped their FY2024 earnings per share (EPS) estimates for Adeia in a report issued on Wednesday, December 4th. BWS Financial analyst H. Khorsand now anticipates that the company will earn $1.10 per share for the year, up from their prior forecast of $0.99. BWS Financial has a “Buy” rating and a $16.00 price target 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 reiterated a “buy” rating and issued a $15.00 target price on shares of Adeia in a research report on Friday, November 8th.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $13.60 on Monday. The business’s 50 day moving average price is $12.28 and its 200 day moving average price is $11.79. The firm has a market cap of $1.49 billion, a P/E ratio of 37.78 and a beta of 1.42. Adeia has a 52 week low of $9.68 and a 52 week high of $14.24. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given 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 1.47%. Adeia’s dividend payout ratio is currently 55.56%.

Institutional Investors Weigh In On Adeia

Several hedge funds have recently bought and sold shares of ADEA. Price T Rowe Associates Inc. MD boosted its position in Adeia by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock worth $1,096,000 after purchasing an additional 3,793 shares in the last quarter. Comerica Bank boosted its position in Adeia by 42.2% in the 1st quarter. Comerica Bank now owns 72,306 shares of the company’s stock worth $790,000 after purchasing an additional 21,454 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Adeia in the 2nd quarter worth approximately $227,000. Wedge Capital Management L L P NC boosted its position in Adeia by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after purchasing an additional 875 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Adeia by 2.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock worth $611,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.