Bank of Montreal Can bought a new position in shares of Tessera Technologies Inc. (NASDAQ:TSRA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 87,367 shares of the company’s stock, valued at approximately $2,677,000.
Several other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC boosted 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 worth $67,577,000 after buying an additional 346,700 shares during the last quarter. State Street Corp boosted its stake in Tessera Technologies by 1.5% in the first quarter. State Street Corp now owns 1,089,747 shares of the company’s stock valued at $33,786,000 after buying an additional 16,172 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tessera Technologies by 2.6% in the first quarter. Geode Capital Management LLC now owns 491,259 shares of the company’s stock valued at $15,228,000 after buying an additional 12,340 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Tessera Technologies by 3.8% in the first quarter. Teachers Advisors Inc. now owns 473,496 shares of the company’s stock valued at $14,678,000 after buying an additional 17,505 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Tessera Technologies by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 290,292 shares of the company’s stock valued at $8,999,000 after buying an additional 1,260 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
Shares of Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.67% on Tuesday, reaching $37.75. The company had a trading volume of 396,040 shares. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.82 and a beta of 1.01. Tessera Technologies Inc. has a 1-year low of $26.21 and a 1-year high of $39.49. The firm has a 50-day moving average price of $36.27 and a 200 day moving average price of $32.52.
Tessera Technologies (NASDAQ:TSRA) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The business 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 revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. Equities research analysts predict that Tessera Technologies Inc. will post $2.24 earnings per share for the current year.
TSRA has been the subject of several recent research reports. Benchmark Co. reaffirmed a “buy” rating and issued a $45.00 price target on shares of Tessera Technologies in a report on Wednesday, September 21st. Zacks Investment Research cut Tessera Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $44.00.
In other news, VP Robert J. Andersen sold 8,000 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 $265,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Andrew Riedel sold 4,500 shares of the 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 completion of the transaction, the director now owns 28,180 shares of the company’s stock, valued at $920,922.40. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
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.
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