Old Mutual Global Investors UK Ltd. Takes Position in Tessera Technologies, Inc. (TSRA)
Old Mutual Global Investors UK Ltd. acquired a new position in shares of Tessera Technologies, Inc. (NASDAQ:TSRA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,677 shares of the company’s stock, valued at approximately $448,000.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Tessera Technologies by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,903,402 shares of the company’s stock valued at $119,600,000 after buying an additional 21,759 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Tessera Technologies by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,780,489 shares of the company’s stock valued at $54,553,000 after buying an additional 122,462 shares during the period. Trigran Investments Inc. raised its stake in shares of Tessera Technologies by 5.1% in the second quarter. Trigran Investments Inc. now owns 1,273,905 shares of the company’s stock valued at $39,032,000 after buying an additional 61,954 shares during the period. Segall Bryant & Hamill LLC raised its stake in shares of Tessera Technologies by 4.6% in the second quarter. Segall Bryant & Hamill LLC now owns 1,018,011 shares of the company’s stock valued at $31,192,000 after buying an additional 44,498 shares during the period. Finally, Penn Capital Management Co. Inc. raised its stake in shares of Tessera Technologies by 99.5% in the second quarter. Penn Capital Management Co. Inc. now owns 654,900 shares of the company’s stock valued at $20,237,000 after buying an additional 326,689 shares during the period. 98.83% of the stock is currently owned by institutional investors.
Shares of Tessera Technologies, Inc. (NASDAQ:TSRA) traded up 1.15% during midday trading on Friday, hitting $44.05. The stock had a trading volume of 207,054 shares. Tessera Technologies, Inc. has a one year low of $26.21 and a one year high of $45.95. The firm has a 50 day moving average of $42.63 and a 200-day moving average of $36.51. The company has a market cap of $2.14 billion, a P/E ratio of 25.09 and a beta of 1.06.
Tessera Technologies (NASDAQ:TSRA) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $62.40 million for the quarter, compared to analyst estimates of $62.35 million. Tessera Technologies had a net margin of 35.10% and a return on equity of 20.72%. Tessera Technologies’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts forecast that Tessera Technologies, Inc. will post $2.24 earnings per share for the current fiscal year.
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Several brokerages have recently commented on TSRA. Benchmark Co. reissued a “buy” rating and set a $53.00 price target (up previously from $45.00) on shares of Tessera Technologies in a research note on Wednesday, January 4th. Zacks Investment Research raised Tessera Technologies from a “hold” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research note on Thursday, November 3rd.
In related news, Director George Andrew Riedel sold 8,000 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $44.30, for a total transaction of $354,400.00. Following the sale, the director now owns 20,180 shares in the company, valued at $893,974. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donald E. Stout sold 1,900 shares of the stock in a transaction dated Friday, December 30th. The stock was sold at an average price of $44.38, for a total transaction of $84,322.00. Following the sale, the director now owns 28,970 shares in the company, valued at approximately $1,285,688.60. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
About Tessera Technologies
Tessera Holding Corporation is a product and technology licensing company. The Company’s technologies and intellectual property are deployed, in areas, such as audio, computational imaging, computer vision, mobile computing and communications, memory, data storage, three dimensional (3D) semiconductor interconnect and packaging.
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