56,106 Shares in Tessera Technologies Inc. (TSRA) Acquired by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC purchased a new position in shares of Tessera Technologies Inc. (NASDAQ:TSRA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 56,106 shares of the company’s stock, valued at approximately $1,719,000.
Other large investors also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. bought a new stake in Tessera Technologies during the first quarter worth about $233,000. Bayesian Capital Management LP bought a new stake in Tessera Technologies during the first quarter worth about $248,000. Aperio Group LLC boosted its position in shares of Tessera Technologies by 5.6% in the first quarter. Aperio Group LLC now owns 8,095 shares of the company’s stock worth $251,000 after buying an additional 430 shares during the period. James Investment Research Inc. boosted its position in shares of Tessera Technologies by 2.3% in the second quarter. James Investment Research Inc. now owns 9,405 shares of the company’s stock worth $288,000 after buying an additional 210 shares during the period. Finally, Parametrica Management Ltd acquired a new position in shares of Tessera Technologies during the first quarter worth $372,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.
Tessera Technologies Inc. (NASDAQ:TSRA) traded up 3.45% on Thursday, reaching $38.40. 934,971 shares of the company’s stock traded hands. The stock has a 50-day moving average of $33.37 and a 200 day moving average of $31.49. Tessera Technologies Inc. has a 52 week low of $26.21 and a 52 week high of $38.88. The firm has a market capitalization of $1.87 billion, a P/E ratio of 20.16 and a beta of 1.14.
Tessera Technologies (NASDAQ:TSRA) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) 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 company had revenue of $67.02 million for the quarter, compared to analysts’ expectations of $65.17 million. During the same period last year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Tessera Technologies Inc. will post $2.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. Tessera Technologies’s dividend payout ratio is currently 42.11%.
TSRA has been the subject of a number of research reports. Zacks Investment Research cut shares of Tessera Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 5th. Benchmark Co. restated a “buy” rating and issued a $45.00 price objective on shares of Tessera Technologies in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Tessera Technologies currently has a consensus rating of “Buy” and a consensus price target of $44.00.
In other Tessera Technologies news, CEO Thomas A. Lacey sold 40,000 shares of the firm’s stock in a transaction dated 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 SEC, which can be accessed through this link. Also, Director George Andrew Riedel sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $32.68, for a total transaction of $147,060.00. Following the sale, the director now directly owns 28,180 shares in the company, valued at $920,922.40. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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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