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 trading hands.
A number of brokerages have recently issued reports on TSRA. Zacks Investment Research raised shares of Tessera Technologies from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet upgraded shares of Tessera Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, May 3rd. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Tessera Technologies in a research note on Tuesday, May 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tessera Technologies currently has a consensus rating of “Buy” and an average target price of $44.67.
The stock has a market cap of $1.62 billion and a P/E ratio of 17.55. The company has a 50 day moving average price of $32.05 and a 200-day moving average price of $30.71.
Tessera Technologies (NASDAQ:TSRA) last announced its earnings results on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping the Zacks’ 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. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Tessera Technologies Inc. will post $2.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.40%.
In other 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 sale, the director now owns 48,664 shares in the company, valued at $1,561,627.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Andrew Riedel sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $32.68, for a total value of $147,060.00. Following the sale, the director now owns 28,180 shares in the company, valued at approximately $920,922.40. The disclosure for this sale can be found here.
Several large investors have modified their holdings of TSRA. 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 during the last quarter. Trexquant Investment LP acquired a new stake in shares of Tessera Technologies during the fourth quarter worth $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 during the last quarter. Finally, Morgan Stanley raised its stake in shares of Tessera Technologies by 12.0% in the fourth quarter. Morgan Stanley now owns 641,755 shares of the company’s stock worth $19,259,000 after buying an additional 68,733 shares during 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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