Tessera Technologies Inc. (TSRA) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “Tessera is a provider of back-end technology for semiconductor manufacturing. 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. Further, the DTI acquisition will make Tessera one of the leading product and technology licensing companies globally. Its deal with ASE also has tremendous potential. However, protection of IP, its pricing strategy and customer concentration remain risks.”
Separately, Benchmark Co. reaffirmed a buy rating and issued a $45.00 price target on shares of Tessera Technologies in a report on Wednesday, September 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $44.00.
Shares of Tessera Technologies (NASDAQ:TSRA) opened at 39.02 on Tuesday. Tessera Technologies has a 52 week low of $26.21 and a 52 week high of $39.49. The company has a 50 day moving average of $35.31 and a 200 day moving average of $32.14. The firm has a market cap of $1.90 billion, a PE ratio of 20.48 and a beta of 1.01.
Tessera Technologies (NASDAQ:TSRA) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $67.02 million for the quarter, compared to analysts’ expectations of $65.17 million. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. On average, equities research analysts anticipate that Tessera Technologies will post $2.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. Tessera Technologies’s dividend payout ratio (DPR) is 42.11%.
In other Tessera Technologies news, Director Richard Hill sold 25,000 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $32.09, for a total transaction of $802,250.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas A. Lacey sold 40,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $33.15, for a total transaction of $1,326,000.00. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of 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 period. JPMorgan Chase & Co. raised its position in shares of Tessera Technologies by 11.6% in the first quarter. JPMorgan Chase & Co. now owns 64,128 shares of the company’s stock worth $1,988,000 after buying an additional 6,678 shares in the last quarter. Aperio Group LLC raised 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 in the last quarter. James Investment Research Inc. raised 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 in the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its position in shares of Tessera Technologies by 72.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 250,081 shares of the company’s stock worth $7,662,000 after buying an additional 105,112 shares in the last quarter. 97.84% of the stock is currently 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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