What is BWS Financial’s Estimate for Adeia FY2024 Earnings?

Adeia Inc. (NASDAQ:ADEA) – 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 anticipates that the company will earn $1.10 per share for the year, up from their previous 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 reissued a “buy” rating and set a $15.00 target price on shares of Adeia in a research note on Friday, November 8th.

Adeia Stock Performance

NASDAQ:ADEA opened at $13.36 on Monday. Adeia has a 52 week low of $9.68 and a 52 week high of $14.24. The company has a fifty day simple moving average of $12.24 and a two-hundred day simple moving average of $11.78. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 37.11 and a beta of 1.42.

Institutional Investors Weigh In On Adeia

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of Adeia by 21.9% during the third quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock worth $1,185,000 after purchasing an additional 17,905 shares in the last quarter. Hohimer Wealth Management LLC purchased a new stake in Adeia during the 3rd quarter worth about $190,000. Geode Capital Management LLC boosted its position in shares of Adeia by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after acquiring an additional 78,135 shares in the last quarter. Barclays PLC raised its position in shares of Adeia by 51.9% during 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 in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Adeia by 31.6% during the third quarter. Orion Portfolio Solutions LLC now owns 63,819 shares of the company’s stock worth $760,000 after purchasing an additional 15,314 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is presently 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.