Tessera Technologies Inc. (NASDAQ:TSRA) was down 5.8% during trading on Wednesday . The company traded as low as $28.91 and last traded at $30.21, with a volume of 724,579 shares. The stock had previously closed at $32.07.

A number of equities research analysts have commented on TSRA shares. Zacks Investment Research cut shares of Tessera Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Bank of America Corp. restated a “buy” rating on shares of Tessera Technologies in a research note on Tuesday, May 3rd. Finally, TheStreet upgraded shares of Tessera Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.67.

The stock’s 50 day moving average is $31.41 and its 200-day moving average is $30.24. The company has a market cap of $1.52 billion and a PE ratio of 16.08.

Tessera Technologies (NASDAQ:TSRA) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. During the same quarter last year, the company earned $0.58 EPS. The company had revenue of $67.02 million for the quarter, compared to analyst estimates of $65.17 million. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Tessera Technologies Inc. will post $2.31 EPS for the current year.

In related news, Director Richard Hill sold 7,278 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $32.19, for a total value of $234,278.82. Following the sale, the director now owns 48,664 shares in the company, valued at $1,566,494.16. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Other large investors have recently modified their holdings of the company. Airain ltd raised its stake in shares of Tessera Technologies by 203.8% in the fourth quarter. Airain ltd now owns 33,670 shares of the company’s stock worth $1,010,000 after buying an additional 22,586 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Tessera Technologies during the fourth quarter worth approximately $1,056,000. US Bancorp DE raised its stake in shares of Tessera Technologies by 4.9% in the fourth quarter. US Bancorp DE now owns 59,536 shares of the company’s stock worth $1,786,000 after buying an additional 2,795 shares in the last quarter. Comerica Bank raised its stake in shares of Tessera Technologies by 6.7% in the fourth quarter. Comerica Bank now owns 65,288 shares of the company’s stock worth $1,782,000 after buying an additional 4,104 shares in the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Tessera Technologies during the fourth quarter worth approximately $2,028,000.

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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