Insider Selling: John Thode Unloads 2,455 Shares of Tessera Technologies Stock (TSRA)
Tessera Technologies (NASDAQ:TSRA) Insider John Thode sold 2,455 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $22.18, for a total transaction of $54,451.90. Following the transaction, the insider now directly owns 82,500 shares of the company’s stock, valued at approximately $1,829,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Tessera Technologies (NASDAQ:TSRA) traded up 1.40% on Friday, hitting $22.44. 347,717 shares of the company’s stock traded hands. Tessera Technologies has a 1-year low of $17.60 and a 1-year high of $23.91. The stock’s 50-day moving average is $22.00 and its 200-day moving average is $20.62. The company’s market cap is $1.200 billion.
Tessera Technologies (NASDAQ:TSRA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.26. The company had revenue of $88.30 million for the quarter, compared to the consensus estimate of $84.00 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was up 208.5% on a year-over-year basis. Analysts expect that Tessera Technologies will post $1.34 EPS for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.52 per share. This represents a yield of 1.87%. The ex-dividend date of this dividend is Monday, June 2nd.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Tessera Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Analysts at Zacks upgraded shares of Tessera Technologies from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $23.00 price target on the stock.
Tessera Technologies, Inc is a holding company with operating subsidiaries in two segments: Intellectual Property and DigitalOptics.
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