Tessera Technologies Inc. (TSRA) Sees Large Volume Increase
Shares of Tessera Technologies Inc. (NASDAQ:TSRA) saw unusually-high trading volume on Wednesday . Approximately 601,176 shares traded hands during trading, an increase of 61% from the previous session’s volume of 372,291 shares.The stock last traded at $36.53 and had previously closed at $35.28.
TSRA has been the topic of a number of research reports. Benchmark Co. reaffirmed a “buy” rating and set a $45.00 target price on shares of Tessera Technologies in a research report on Wednesday. Zacks Investment Research lowered shares of Tessera Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.00.
The stock’s 50 day moving average is $33.16 and its 200 day moving average is $31.44. The firm has a market cap of $1.80 billion, a PE ratio of 19.49 and a beta of 1.14.
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Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The company earned $67.02 million during the quarter, compared to analysts’ expectations of $65.17 million. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. On average, equities research analysts forecast that Tessera Technologies Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 18th. Tessera Technologies’s payout ratio is presently 42.11%.
In other news, Director Richard Hill sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.09, for a total value of $802,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas A. Lacey sold 40,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $33.15, for a total value of $1,326,000.00. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in TSRA. PNC Financial Services Group Inc. increased its stake in Tessera Technologies by 3.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,239 shares of the company’s stock valued at $191,000 after buying an additional 214 shares during the last quarter. Quantbot Technologies LP increased its stake in Tessera Technologies by 104.6% in the second quarter. Quantbot Technologies LP now owns 6,500 shares of the company’s stock valued at $199,000 after buying an additional 3,323 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Tessera Technologies by 25.5% in the second quarter. Teacher Retirement System of Texas now owns 7,038 shares of the company’s stock valued at $216,000 after buying an additional 1,428 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in Tessera Technologies during the first quarter valued at approximately $233,000. Finally, Cubist Systematic Strategies LLC increased its stake in Tessera Technologies by 4.1% in the second quarter. Cubist Systematic Strategies LLC now owns 7,859 shares of the company’s stock valued at $241,000 after buying an additional 310 shares during the last quarter. 97.84% of the stock is owned by 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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