Tessera Technologies Inc. (NASDAQ:TSRA)’s share price traded up 3.7% during mid-day trading on Tuesday . The stock traded as high as $34.81 and last traded at $34.71, with a volume of 470,202 shares trading hands. The stock had previously closed at $33.48.

Separately, Zacks Investment Research cut Tessera Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.50.

The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 18.57 and a beta of 1.14. The stock’s 50-day moving average is $32.94 and its 200-day moving average is $31.36.

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Tessera Technologies (NASDAQ:TSRA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business earned $67.02 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. Equities analysts anticipate that Tessera Technologies Inc. will post $2.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, August 18th. Tessera Technologies’s dividend payout ratio is presently 42.11%.

In other news, CEO Thomas A. Lacey sold 40,000 shares of Tessera Technologies stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $33.15, for a total transaction of $1,326,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Andrew Riedel sold 4,500 shares of Tessera Technologies stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $920,922.40. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Tessera Technologies by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,903,402 shares of the company’s stock valued at $119,600,000 after buying an additional 21,759 shares during the last quarter. Renaissance Technologies LLC raised its position 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 valued at $67,577,000 after buying an additional 346,700 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tessera Technologies by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,780,489 shares of the company’s stock valued at $54,553,000 after buying an additional 122,462 shares during the last quarter. Trigran Investments Inc. raised its position in shares of Tessera Technologies by 5.1% in the second quarter. Trigran Investments Inc. now owns 1,273,905 shares of the company’s stock valued at $39,032,000 after buying an additional 61,954 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Tessera Technologies by 16.1% in the second quarter. Glenmede Trust Co. NA now owns 1,213,061 shares of the company’s stock valued at $37,166,000 after buying an additional 167,850 shares during the last quarter. 97.98% of the stock is currently owned by institutional investors.

About Tessera Technologies

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.

5 Day Chart for NASDAQ:TSRA

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