Tessera Holding Corporation (NASDAQ:XPER)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $24.80 and last traded at $24.75, with a volume of 494,521 shares traded. The stock had previously closed at $25.75.

Separately, Zacks Investment Research cut Tessera Holding Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st.

The stock has a 50-day moving average price of $26.97 and a 200 day moving average price of $31.36. The stock’s market capitalization is $1.23 billion.

Tessera Holding Corporation (NASDAQ:XPER) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. Tessera Holding Corporation had a positive return on equity of 11.06% and a negative net margin of 12.22%. The business had revenue of $91.32 million for the quarter, compared to the consensus estimate of $90.33 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. Equities analysts forecast that Tessera Holding Corporation will post $1.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 3.23%. Tessera Holding Corporation’s dividend payout ratio is currently -111.11%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in XPER. Nordea Investment Management AB purchased a new position in shares of Tessera Holding Corporation in the first quarter worth about $117,000. ClariVest Asset Management LLC purchased a new position in shares of Tessera Holding Corporation in the first quarter worth about $117,000. Envestnet Asset Management Inc. purchased a new position in shares of Tessera Holding Corporation in the first quarter worth about $118,000. UBS Group AG purchased a new position in shares of Tessera Holding Corporation in the first quarter worth about $131,000. Finally, LS Investment Advisors LLC purchased a new position in shares of Tessera Holding Corporation in the first quarter worth about $143,000. Hedge funds and other institutional investors own 99.96% of the company’s stock.

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Tessera Holding Corporation Company Profile

Tessera Holding Corporation is a product and technology licensing company. The Company’s technologies and intellectual property are deployed, in areas, such as audio, computational imaging, computer vision, mobile computing and communications, memory, data storage, three dimensional (3D) semiconductor interconnect and packaging.

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