Tessera Technologies’ (TSRA) Buy Rating Reiterated at Benchmark Co.
Tessera Technologies Inc. (NASDAQ:TSRA)‘s stock had its “buy” rating reaffirmed by Benchmark Co. in a research note issued on Wednesday. They presently have a $45.00 price objective on the stock. Benchmark Co.’s price target would indicate a potential upside of 27.55% from the company’s current price.
The analysts wrote, “We believe DTS is an indication of management dedication to do so.””
Separately, Zacks Investment Research lowered shares of Tessera Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.00.
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Shares of Tessera Technologies (NASDAQ:TSRA) traded up 3.614% during mid-day trading on Wednesday, hitting $36.555. 453,242 shares of the company traded hands. Tessera Technologies has a 52-week low of $26.21 and a 52-week high of $37.87. The firm has a 50-day moving average price of $33.02 and a 200 day moving average price of $31.40. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 19.189 and a beta of 1.14.
Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business earned $67.02 million during the quarter, compared to analyst estimates of $65.17 million. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share. Equities research analysts anticipate that Tessera Technologies will post $2.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. Tessera Technologies’s dividend payout ratio is currently 42.11%.
In related news, VP Robert J. Andersen sold 8,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $33.15, for a total value of $265,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Hill sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $32.09, for a total transaction of $802,250.00. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
A number of large investors have recently bought and sold shares of 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 $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 and hedge funds.
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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