BWS Financial Has Positive Outlook for Adeia FY2024 Earnings

Adeia Inc. (NASDAQ:ADEA) – Equities researchers at BWS Financial increased their FY2024 earnings per share estimates for shares of Adeia in a report released 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 forecast 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 reaffirmed a “buy” rating and set a $15.00 target price on shares of Adeia in a research note on Friday, November 8th.

Adeia Trading Up 1.8 %

Shares of ADEA stock opened at $13.60 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 37.78 and a beta of 1.42. The stock has a 50 day simple moving average of $12.28 and a 200-day simple moving average of $11.79. Adeia has a 1-year low of $9.68 and a 1-year high of $14.24.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Adeia by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock valued at $1,185,000 after purchasing an additional 17,905 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Adeia in the 3rd quarter valued at $190,000. Geode Capital Management LLC raised its stake in Adeia by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after purchasing an additional 78,135 shares during the last quarter. Barclays PLC increased its stake in shares of Adeia by 51.9% in the 3rd quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after acquiring an additional 78,276 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Adeia by 31.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 63,819 shares of the company’s stock worth $760,000 after acquiring an additional 15,314 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

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.