Adeia Inc. (NASDAQ:ADEA – Free Report) – Analysts at BWS Financial cut their FY2024 EPS estimates for shares of Adeia in a research report issued on Monday, January 13th. BWS Financial analyst H. Khorsand now forecasts that the company will post earnings per share of $1.00 for the year, down from their previous 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 boosted their price target on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 12th.
Read Our Latest Report on ADEA
Adeia Price Performance
Shares of ADEA stock opened at $12.92 on Thursday. The company has a market capitalization of $1.41 billion, a P/E ratio of 35.89 and a beta of 1.39. The company’s 50-day simple moving average is $13.08 and its two-hundred day simple moving average is $12.25. Adeia has a one year low of $9.68 and a one year high of $14.75. 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 Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia’s payout ratio is 55.56%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in ADEA. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Adeia during the third quarter valued at approximately $8,412,000. Systematic Financial Management LP lifted its holdings in Adeia by 17.0% during the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after buying an additional 313,741 shares during the period. Harvey Partners LLC increased its holdings in shares of Adeia by 5.8% in the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after acquiring an additional 168,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after acquiring an additional 159,254 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Adeia by 320.5% in the third quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after purchasing an additional 97,815 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.
About Adeia
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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.
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