Tessera Technologies Inc. (TSRA) Stock Price Down 5.8%
Tessera Technologies Inc. (NASDAQ:TSRA) was down 5.8% during mid-day trading on Wednesday . The stock traded as low as $28.91 and last traded at $30.21, with a volume of 724,579 shares traded. The stock had previously closed at $32.07.
Several equities research analysts recently issued reports on TSRA shares. Zacks Investment Research cut shares of Tessera Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. TheStreet upgraded shares of Tessera Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Finally, Bank of America Corp. restated a “buy” rating on shares of Tessera Technologies in a report on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Tessera Technologies presently has an average rating of “Buy” and a consensus price target of $44.67.
The firm has a 50-day moving average of $31.38 and a 200-day moving average of $30.25. The firm has a market cap of $1.54 billion and a price-to-earnings ratio of 16.69.
Tessera Technologies (NASDAQ:TSRA) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $67.02 million for the quarter, compared to the consensus estimate of $65.17 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. Analysts predict that Tessera Technologies Inc. will post $2.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.55%.
In related news, Director Richard Hill sold 7,278 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $32.19, for a total transaction of $234,278.82. Following the sale, the director now owns 48,664 shares of the company’s stock, valued at $1,566,494.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other hedge funds and institutional investors recently made changes to their positions in the company. Airain ltd raised its position in shares of Tessera Technologies by 203.8% in the fourth quarter. Airain ltd now owns 33,670 shares of the company’s stock valued at $1,010,000 after buying an additional 22,586 shares in the last quarter. TrimTabs Asset Management LLC acquired a new position in Tessera Technologies during the fourth quarter valued at $2,028,000. Trexquant Investment LP acquired a new position in Tessera Technologies during the fourth quarter valued at $1,056,000. US Bancorp DE raised its position in Tessera Technologies by 4.9% in the fourth quarter. US Bancorp DE now owns 59,536 shares of the company’s stock valued at $1,786,000 after buying an additional 2,795 shares during the period. Finally, Marshall Wace LLP raised its position in Tessera Technologies by 36.8% in the fourth quarter. Marshall Wace LLP now owns 665,054 shares of the company’s stock valued at $19,958,000 after buying an additional 178,882 shares during the period.
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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