Brokers Issue Forecasts for Adeia Inc.’s Q3 2023 Earnings (NASDAQ:ADEA)

Posted by Defense World Staff on Oct 9th, 2023

Adeia Inc. (NASDAQ:ADEA – Free Report) – Research analysts at BWS Financial decreased their Q3 2023 earnings per share estimates for shares of Adeia in a research report issued on Wednesday, October 4th. BWS Financial analyst H. Khorsand now expects that the company will earn $0.24 per share for the quarter, down from their previous estimate of $0.27. The consensus estimate for Adeia’s current full-year earnings is $1.20 per share. BWS Financial also issued estimates for Adeia’s Q4 2023 earnings at $0.27 EPS and FY2023 earnings at $1.20 EPS.

Adeia (NASDAQ:ADEA – Get Free Report) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Adeia had a positive return on equity of 29.68% and a negative net margin of 55.32%. The firm had revenue of $83.22 million for the quarter, compared to the consensus estimate of $84.17 million.

Separately, Stephens reduced their price objective on Adeia from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, October 3rd.

Read Our Latest Report on ADEA

Adeia Stock Up 5.2 %

NASDAQ:ADEA opened at $9.03 on Monday. The stock’s fifty day moving average price is $10.15 and its two-hundred day moving average price is $9.78. Adeia has a 52-week low of $7.12 and a 52-week high of $12.37. The company has a debt-to-equity ratio of 1.83, a quick ratio of 2.33 and a current ratio of 2.33. The company has a market cap of $963.95 million, a price-to-earnings ratio of -3.22 and a beta of 1.19.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Monday, August 28th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, August 25th. Adeia’s payout ratio is -7.14%.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently made changes to their positions in ADEA. BlackRock Inc. bought a new stake in shares of Adeia during the 1st quarter valued at $147,767,000. Ameriprise Financial Inc. bought a new stake in shares of Adeia in the 1st quarter valued at $108,275,000. Rubric Capital Management LP bought a new stake in shares of Adeia in the 1st quarter valued at $40,690,000. Dimensional Fund Advisors LP bought a new stake in shares of Adeia in the 1st quarter valued at $32,577,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of Adeia in the 1st quarter valued at $28,779,000. Institutional investors own 91.66% of the company’s stock.

Adeia Company Profile

(Get Free Report)

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company worldwide. The company licenses its innovations to media and semiconductor industries and companies under the Adeia brand. It 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 and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, content storage devices, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices.