Tessera Holding Corporation (NASDAQ:XPER) was downgraded by research analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a research note issued on Friday, The Fly reports.

Separately, Zacks Investment Research downgraded shares of Tessera Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st.

Tessera Holding Corporation (NASDAQ:XPER) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). Tessera Holding Corporation had a positive return on equity of 11.06% and a negative net margin of 12.22%. The company had revenue of $88.50 million for the quarter, compared to the consensus estimate of $94.20 million. Tessera Holding Corporation’s revenue for the quarter was up 41.8% compared to the same quarter last year.

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A number of institutional investors have recently added to or reduced their stakes in XPER. Envestnet Asset Management Inc. bought a new position in Tessera Holding Corporation in the first quarter valued at $118,000. UBS Group AG bought a new position in Tessera Holding Corporation in the first quarter valued at $131,000. Flinton Capital Management LLC grew its position in Tessera Holding Corporation by 65.1% in the second quarter. Flinton Capital Management LLC now owns 4,828 shares of the semiconductor company’s stock valued at $144,000 after purchasing an additional 1,904 shares in the last quarter. Riverhead Capital Management LLC grew its position in Tessera Holding Corporation by 68.9% in the second quarter. Riverhead Capital Management LLC now owns 4,897 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 1,997 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in Tessera Holding Corporation by 1.8% in the second quarter. Pinebridge Investments L.P. now owns 6,515 shares of the semiconductor company’s stock valued at $194,000 after purchasing an additional 116 shares in the last quarter. 99.96% of the stock is owned by institutional investors and hedge funds.

About Tessera Holding Corporation

Tessera Holding Corporation is a product and technology licensing company. The Company’s technologies and intellectual property are deployed, in areas, such as audio, computational imaging, computer vision, mobile computing and communications, memory, data storage, three dimensional (3D) semiconductor interconnect and packaging.

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