Tessera Technologies Inc. (TSRA) PT Set at $45.00 by Benchmark Co.
Tessera Technologies Inc. (NASDAQ:TSRA) received a $45.00 target price from analysts at Benchmark Co. in a research note issued on Friday. The firm currently has a a “buy” rating on the stock. Benchmark Co.’s price target indicates a potential upside of 14.47% from the company’s previous close.
Separately, Zacks Investment Research upgraded shares of Tessera Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.00.
Shares of Tessera Technologies (NASDAQ:TSRA) opened at 39.31 on Friday. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 20.64 and a beta of 1.01. The stock has a 50 day moving average of $35.49 and a 200 day moving average of $32.22. Tessera Technologies has a 52-week low of $26.21 and a 52-week high of $39.49.
Tessera Technologies (NASDAQ:TSRA) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business earned $67.02 million during the quarter, compared to analyst estimates of $65.17 million. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. Tessera Technologies’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. On average, equities research analysts expect that Tessera Technologies will post $2.24 EPS for the current 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, August 18th. Tessera Technologies’s payout ratio is presently 42.11%.
In other 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George Andrew Riedel sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were 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 approximately $920,922.40. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in TSRA. Renaissance Technologies LLC increased 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 last quarter. Granahan Investment Management Inc. MA bought a new stake in shares of Tessera Technologies during the first quarter worth about $5,054,000. Hancock Holding Co. increased its stake in shares of Tessera Technologies by 41.8% in the first quarter. Hancock Holding Co. now owns 23,555 shares of the company’s stock worth $730,000 after buying an additional 6,949 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tessera Technologies by 2.6% in the first quarter. Geode Capital Management LLC now owns 491,259 shares of the company’s stock worth $15,228,000 after buying an additional 12,340 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Tessera Technologies by 1.5% in the first quarter. State Street Corp now owns 1,089,747 shares of the company’s stock worth $33,786,000 after buying an additional 16,172 shares during the last quarter. 97.84% of the stock is currently owned by hedge funds and other 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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