Gargoyle Investment Advisor L.L.C. maintained its stake in shares of Tessera Technologies Inc. (NASDAQ:TSRA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,993 shares of the company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Tessera Technologies were worth $459,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in TSRA. Bayesian Capital Management LP purchased a new stake in shares of Tessera Technologies during the first quarter worth approximately $248,000. Aperio Group LLC increased its stake in shares of Tessera Technologies by 5.6% in the first quarter. Aperio Group LLC now owns 8,095 shares of the company’s stock worth $251,000 after buying an additional 430 shares during the last quarter. James Investment Research Inc. increased its stake in shares of Tessera Technologies by 2.3% in the second quarter. James Investment Research Inc. now owns 9,405 shares of the company’s stock worth $288,000 after buying an additional 210 shares during the last quarter. Fox Run Management L.L.C. increased its stake in shares of Tessera Technologies by 19.8% in the second quarter. Fox Run Management L.L.C. now owns 12,700 shares of the company’s stock worth $389,000 after buying an additional 2,100 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Tessera Technologies by 90.9% in the second quarter. BNP Paribas Arbitrage SA now owns 16,142 shares of the company’s stock worth $495,000 after buying an additional 7,688 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.
Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.62% during midday trading on Thursday, hitting $39.10. 290,067 shares of the stock were exchanged. Tessera Technologies Inc. has a 52 week low of $26.21 and a 52 week high of $39.49. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 20.52 and a beta of 1.01. The firm’s 50-day moving average is $34.95 and its 200 day moving average is $32.03.
Tessera Technologies (NASDAQ:TSRA) last issued its earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $67.02 million for 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 company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. Equities research analysts expect that Tessera Technologies Inc. will post $2.24 EPS for the current fiscal year.
The business 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. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. Tessera Technologies’s dividend payout ratio (DPR) is presently 42.11%.
A number of brokerages recently commented on TSRA. Zacks Investment Research upgraded shares of Tessera Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Benchmark Co. reiterated a “buy” rating and set a $45.00 price target on shares of Tessera Technologies in a research report on Wednesday, September 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $44.00.
In related news, CEO Thomas A. Lacey sold 40,000 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $33.15, for a total transaction of $1,326,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Hill sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were 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.
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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