Mason Street Advisors LLC acquired a new stake in shares of Tessera Technologies Inc. (NASDAQ:TSRA) during the second quarter, Holdings Channel reports. The firm acquired 9,006 shares of the company’s stock, valued at approximately $276,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position 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 last quarter. Schwab Charles Investment Management Inc. raised its position 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 last quarter. Fiera Capital Corp acquired a new position in Tessera Technologies during the second quarter valued at approximately $7,403,000. Highbridge Capital Management LLC acquired a new position in Tessera Technologies during the second quarter valued at approximately $3,159,000. Finally, Cubist Systematic Strategies LLC raised its position 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.
Shares of Tessera Technologies Inc. (NASDAQ:TSRA) opened at 39.02 on Friday. The firm has a market cap of $1.90 billion, a PE ratio of 20.48 and a beta of 1.01. The company has a 50-day moving average of $35.31 and a 200 day moving average of $32.14. Tessera Technologies Inc. has a one year low of $26.21 and a one year high of $39.49.
Tessera Technologies (NASDAQ:TSRA) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, beating 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 company earned $67.02 million during the quarter, compared to the consensus estimate of $65.17 million. During the same quarter in the prior year, the company posted $0.58 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Tessera Technologies Inc. will post $2.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.20 per share. 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 currently 42.11%.
Several research firms have recently commented on TSRA. Benchmark Co. set a $45.00 price objective on shares of Tessera Technologies and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of Tessera Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.00.
In other news, VP Robert J. Andersen sold 21,521 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $35.00, for a total transaction of $753,235.00. Following the completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $265,200.00. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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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