Shares of Tessera Technologies Inc. (NASDAQ:TSRA) have received a consensus rating of “Buy” from the six research firms that are currently covering the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $49.00.
A number of research analysts recently weighed in on TSRA shares. Zacks Investment Research lowered shares of Tessera Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 5th. Benchmark Co. reissued a “buy” rating and issued a $45.00 target price on shares of Tessera Technologies in a report on Wednesday.
Tessera Technologies (NASDAQ:TSRA) opened at 37.77 on Wednesday. The firm’s 50-day moving average is $33.55 and its 200-day moving average is $31.54. The stock has a market capitalization of $1.83 billion, a P/E ratio of 19.83 and a beta of 1.14. Tessera Technologies has a 12 month low of $26.21 and a 12 month high of $38.88.
Tessera Technologies (NASDAQ:TSRA) last announced its quarterly earnings data 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. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The business earned $67.02 million during the quarter, compared to analyst estimates of $65.17 million. During the same period last year, the firm posted $0.58 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Tessera Technologies will post $2.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were given 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 yield of 2.12%. Tessera Technologies’s dividend payout ratio is presently 42.11%.
In related news, VP Robert J. Andersen sold 21,521 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $35.00, for a total value of $753,235.00. Following the completion of the sale, the vice president now directly owns 85,805 shares in the company, valued at $3,003,175. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George Andrew Riedel sold 4,500 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $32.68, for a total value of $147,060.00. Following the completion of the sale, 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 owned by corporate insiders.
A number of hedge funds have recently modified their holdings of TSRA. Mason Street Advisors LLC bought a new stake in shares of Tessera Technologies during the second quarter worth about $276,000. Public Employees Retirement System of Ohio increased its stake in shares of 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 worth $3,086,000 after buying an additional 27,019 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Tessera Technologies by 14.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 293,567 shares of the company’s stock worth $8,995,000 after buying an additional 37,739 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Tessera Technologies during the second quarter worth about $7,403,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Tessera Technologies during the second quarter worth about $3,159,000. Institutional investors own 97.84% 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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