Benchmark Co. Reiterates “$45.00” Price Target for Tessera Technologies Inc. (TSRA)
Tessera Technologies Inc. (NASDAQ:TSRA) has been assigned a $45.00 price objective by equities researchers at Benchmark Co. in a research report issued to clients and investors on Friday. The firm presently has a a “buy” rating on the stock. Benchmark Co.’s price target would suggest a potential upside of 15.33% from the company’s current price.
Separately, Zacks Investment Research raised shares of Tessera Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $44.00.
Shares of Tessera Technologies (NASDAQ:TSRA) traded down 0.20% during mid-day trading on Friday, reaching $39.02. The company’s stock had a trading volume of 451,327 shares. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 20.48 and a beta of 1.01. The firm’s 50 day moving average price is $35.14 and its 200-day moving average price is $32.08. Tessera Technologies has a 1-year low of $26.21 and a 1-year high of $39.49.
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Tessera Technologies (NASDAQ:TSRA) last announced its earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The firm had revenue of $67.02 million for the quarter, compared to analyst estimates of $65.17 million. During the same quarter last year, the business earned $0.58 earnings per share. Tessera Technologies’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Tessera Technologies will post $2.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, August 18th. Tessera Technologies’s dividend payout ratio is presently 42.11%.
In related news, VP Robert J. Andersen sold 21,521 shares of Tessera Technologies stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $35.00, for a total transaction of $753,235.00. Following the sale, the vice president now owns 85,805 shares of the company’s stock, valued at approximately $3,003,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Hill sold 25,000 shares of Tessera Technologies stock in a transaction on 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. 1.20% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Foundry Partners LLC increased its stake in Tessera Technologies by 15.0% in the third quarter. Foundry Partners LLC now owns 9,830 shares of the company’s stock valued at $378,000 after buying an additional 1,285 shares during the period. Mason Street Advisors LLC purchased a new stake in Tessera Technologies during the second quarter valued at about $276,000. Public Employees Retirement System of Ohio increased its stake in Tessera Technologies by 36.7% in the second quarter. Public Employees Retirement System of Ohio now owns 100,722 shares of the company’s stock valued at $3,086,000 after buying an additional 27,019 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Tessera Technologies by 14.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 293,567 shares of the company’s stock valued at $8,995,000 after buying an additional 37,739 shares during the period. Finally, Fiera Capital Corp purchased a new stake in Tessera Technologies during the second quarter valued at about $7,403,000. 97.84% of the stock is currently owned by hedge funds and other 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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