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. Tessera Technologies has a 12-month low of $26.21 and a 12-month high of $37.87. The firm has a market cap of $1.63 billion, a PE ratio of 17.57 and a beta of 1.14. The stock’s 50 day moving average price is $32.94 and its 200-day moving average price is $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, beating the Zacks’ consensus estimate of $0.56 by $0.04. The company earned $67.02 million during the quarter, compared to the consensus estimate of $65.17 million. Tessera Technologies had a return on equity of 21.80% and a net margin of 37.81%. Tessera Technologies’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. Equities research analysts anticipate that Tessera Technologies will post $2.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, August 18th. Tessera Technologies’s payout ratio is currently 42.11%.
In other news, VP Robert J. Andersen sold 8,000 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas A. Lacey sold 40,000 shares of the firm’s stock in a transaction 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. 1.20% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of TSRA. Norges Bank bought a new position in Tessera Technologies during the fourth quarter worth approximately $21,932,000. Chartwell Investment Partners LLC bought a new position in Tessera Technologies during the second quarter worth approximately $19,271,000. Renaissance Technologies LLC raised its position in 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 during the last quarter. Penn Capital Management Co. Inc. raised its position in Tessera Technologies by 99.5% in the second quarter. Penn Capital Management Co. Inc. now owns 654,900 shares of the company’s stock worth $20,237,000 after buying an additional 326,689 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Tessera Technologies during the second quarter worth approximately $8,669,000. 97.98% of the stock is owned by hedge funds and other institutional investors.
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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