Tessera Technologies Inc. (TSRA) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Tessera is a provider of back-end technology for semiconductor manufacturing. Tessera posted better-than-expected second quarter results with both the top line and the bottom line outperforming our estimates. The company is focused on building a high-margin licensing model and therefore the host of patents, new technologies and customer wins are encouraging. The product portfolio has also been revamped to target the mobile segment, which should help growth. Its deal with ASE also has tremendous potential. However, protection of IP, its pricing strategy and customer concentration remain risks.”
Tessera Technologies (NASDAQ:TSRA) opened at 33.48 on Thursday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.57 and a beta of 1.14. Tessera Technologies has a 12-month low of $26.21 and a 12-month high of $37.87. The stock has a 50 day moving average price of $32.94 and a 200-day moving average price of $31.36.
Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Tessera Technologies had a return on equity of 21.80% and a net margin of 37.81%. The firm had revenue of $67.02 million for the quarter, compared to analysts’ expectations of $65.17 million. During the same period in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Tessera Technologies will post $2.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were given a $0.20 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.80 annualized dividend and a yield of 2.39%. Tessera Technologies’s dividend payout ratio (DPR) is presently 42.11%.
In related news, VP Robert J. Andersen sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.15, for a total value of $265,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Hill sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.09, for a total value of $802,250.00. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes 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 worth $119,600,000 after buying an additional 21,759 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Tessera Technologies by 18.9% in the first quarter. Renaissance Technologies LLC now owns 2,179,914 shares of the company’s stock worth $67,577,000 after buying an additional 346,700 shares in the last quarter. 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 worth $54,553,000 after buying an additional 122,462 shares in the last quarter. 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 worth $39,032,000 after buying an additional 61,954 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in shares of Tessera Technologies by 16.1% in the second quarter. Glenmede Trust Co. NA now owns 1,213,061 shares of the company’s stock worth $37,166,000 after buying an additional 167,850 shares in the last quarter. 97.98% of the stock is currently owned by institutional investors and hedge funds.
About Tessera Technologies
Tessera Technologies, Inc, including its subsidiaries, Invensas Corporation (Invensas), FotoNation Limited (FotoNation) and Ziptronix, Inc (Ziptronix), licenses its technologies and intellectual property to customers for use in areas, such as mobile computing and communications, memory and data storage, and three dimensional (3-D) Integrated Circuit (3D-IC) technologies.
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