Tessera Technologies Inc. (TSRA) Shares Gap Up to $32.95
Shares of Tessera Technologies Inc. (NASDAQ:TSRA) gapped up before the market opened on Tuesday . The stock had previously closed at $32.74, but opened at $32.95. Tessera Technologies shares last traded at $33.28, with a volume of 92,626 shares.
Several research firms have weighed in on TSRA. Zacks Investment Research cut Tessera Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 5th. TheStreet raised Tessera Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Tessera Technologies in a report on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Tessera Technologies has a consensus rating of “Buy” and a consensus target price of $44.67.
The stock has a market cap of $1.62 billion and a PE ratio of 17.46. The company’s 50-day moving average is $31.95 and its 200 day moving average is $30.69.
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. The firm earned $67.02 million during the quarter, compared to the consensus estimate of $65.17 million. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. Equities research analysts anticipate that Tessera Technologies Inc. will post $2.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 18th.
In other Tessera Technologies news, Director Richard Hill sold 25,000 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $32.09, for a total transaction of $802,250.00. Following the completion of the sale, the director now owns 48,664 shares of the company’s stock, valued at $1,561,627.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Andrew Riedel sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $32.68, for a total value of $147,060.00. Following the sale, the director now directly owns 28,180 shares of the company’s stock, valued at approximately $920,922.40. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Airain ltd raised its stake in Tessera Technologies by 203.8% in the fourth quarter. Airain ltd now owns 33,670 shares of the company’s stock valued at $1,010,000 after buying an additional 22,586 shares in the last quarter. Trexquant Investment LP bought a new stake in Tessera Technologies during the fourth quarter valued at about $1,056,000. US Bancorp DE raised its stake in Tessera Technologies by 4.9% in the fourth quarter. US Bancorp DE now owns 59,536 shares of the company’s stock valued at $1,786,000 after buying an additional 2,795 shares in the last quarter. Finally, Morgan Stanley raised its stake in Tessera Technologies by 12.0% in the fourth quarter. Morgan Stanley now owns 641,755 shares of the company’s stock valued at $19,259,000 after buying an additional 68,733 shares in the last quarter.
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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