Tessera Technologies Inc. (NASDAQ:TSRA) Given Consensus Recommendation of “Buy” by Analysts
Tessera Technologies Inc. (NASDAQ:TSRA) has earned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $49.00.
Several research firms have weighed in on TSRA. Benchmark Co. reiterated a “buy” rating and issued a $45.00 price target on shares of Tessera Technologies in a research report on Wednesday. Zacks Investment Research upgraded shares of Tessera Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday.
Tessera Technologies (NASDAQ:TSRA) traded up 4.54% during mid-day trading on Wednesday, reaching $36.88. 762,676 shares of the company’s stock traded hands. Tessera Technologies has a 12-month low of $26.21 and a 12-month high of $37.87. The stock has a market capitalization of $1.79 billion, a PE ratio of 19.36 and a beta of 1.14. The stock has a 50-day moving average price of $33.02 and a 200-day moving average price of $31.40.
Tessera Technologies (NASDAQ:TSRA) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The business had revenue of $67.02 million for the quarter, compared to the consensus estimate of $65.17 million. During the same period last year, the firm earned $0.58 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Tessera Technologies will post $2.24 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.80 annualized dividend and a yield of 2.27%. Tessera Technologies’s payout ratio is 42.11%.
In related news, CEO Thomas A. Lacey sold 40,000 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.15, for a total transaction of $1,326,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Andersen sold 8,000 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.15, for a total transaction of $265,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Menta Capital LLC boosted its position in Tessera Technologies by 28.1% in the first quarter. Menta Capital LLC now owns 32,337 shares of the company’s stock valued at $1,002,000 after buying an additional 7,100 shares during the last quarter. Royce & Associates LP boosted its position in Tessera Technologies by 39.7% in the first quarter. Royce & Associates LP now owns 674,020 shares of the company’s stock valued at $20,895,000 after buying an additional 191,530 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Tessera Technologies by 11.6% in the first quarter. JPMorgan Chase & Co. now owns 64,128 shares of the company’s stock valued at $1,988,000 after buying an additional 6,678 shares during the last quarter. Trigran Investments Inc. boosted its position in Tessera Technologies by 15.3% in the first quarter. Trigran Investments Inc. now owns 1,211,951 shares of the company’s stock valued at $37,571,000 after buying an additional 160,469 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its position in Tessera Technologies by 3.8% in the first quarter. Teachers Advisors Inc. now owns 473,496 shares of the company’s stock valued at $14,678,000 after buying an additional 17,505 shares during the last quarter. 97.84% of the stock is owned by institutional investors.
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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