Tessera Technologies Inc. (TSRA) Trading Up 3.7%
Tessera Technologies Inc. (NASDAQ:TSRA) shares were up 3.7% during mid-day trading on Tuesday . The stock traded as high as $34.81 and last traded at $34.71, with a volume of 470,202 shares traded. The stock had previously closed at $33.48.
Several research analysts have issued reports on TSRA shares. Zacks Investment Research lowered shares of Tessera Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Benchmark Co. restated a “buy” rating and set a $45.00 price target on shares of Tessera Technologies in a report on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Tessera Technologies presently has a consensus rating of “Buy” and a consensus price target of $44.00.
The firm’s 50 day moving average is $33.16 and its 200-day moving average is $31.44. The company has a market capitalization of $1.80 billion, a P/E ratio of 19.49 and a beta of 1.14.
Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Tessera Technologies had a return on equity of 21.80% and a net margin of 37.81%. The company earned $67.02 million during the quarter, compared to analyst estimates of $65.17 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. Tessera Technologies’s revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Tessera Technologies Inc. will post $2.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Thursday, August 18th. Tessera Technologies’s payout ratio is 42.11%.
In other Tessera Technologies news, Director Richard Hill sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.09, for a total value of $802,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas A. Lacey sold 40,000 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 $1,326,000.00. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of TSRA. PNC Financial Services Group Inc. raised its stake in shares of Tessera Technologies by 3.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,239 shares of the company’s stock valued at $191,000 after buying an additional 214 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Tessera Technologies by 104.6% in the second quarter. Quantbot Technologies LP now owns 6,500 shares of the company’s stock valued at $199,000 after buying an additional 3,323 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Tessera Technologies by 25.5% in the second quarter. Teacher Retirement System of Texas now owns 7,038 shares of the company’s stock valued at $216,000 after buying an additional 1,428 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Tessera Technologies during the first quarter valued at about $233,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Tessera Technologies by 4.1% in the second quarter. Cubist Systematic Strategies LLC now owns 7,859 shares of the company’s stock valued at $241,000 after buying an additional 310 shares in the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.
Tessera Technologies Company Profile
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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