Research Analysts Set Expectations for Adeia FY2024 Earnings

Adeia Inc. (NASDAQ:ADEA) – Analysts at BWS Financial lowered their FY2024 earnings estimates for Adeia in a research report issued to clients and investors on Monday, January 13th. BWS Financial analyst H. Khorsand now expects that the company will post earnings per share of $1.00 for the year, down from their prior forecast of $1.10. 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 $0.35 EPS.

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

Adeia Stock Performance

Shares of NASDAQ:ADEA opened at $12.76 on Thursday. The company’s 50 day simple moving average is $13.05 and its 200 day simple moving average is $12.24. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 35.44 and a beta of 1.39. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. Adeia has a 1 year low of $9.68 and a 1 year high of $14.75.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a $0.05 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.57%. Adeia’s dividend payout ratio is currently 55.56%.

Institutional Trading of Adeia

Hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new stake in Adeia in the second quarter valued at approximately $122,000. Hohimer Wealth Management LLC acquired a new stake in Adeia in the third quarter valued at approximately $190,000. Seizert Capital Partners LLC acquired a new position in shares of Adeia during the third quarter worth $197,000. Zacks Investment Management lifted its holdings in shares of Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after purchasing an additional 5,902 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Adeia during the third quarter worth $253,000. Institutional investors and hedge funds 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.