Tessera Technologies Inc. (NASDAQ:TSRA) has been given a $45.00 price target by research analysts at Benchmark Co. in a research note issued on Friday. The brokerage currently has a a “buy” rating on the stock. Benchmark Co.’s price target would suggest a potential upside of 15.09% from the company’s previous close.
Separately, Zacks Investment Research cut shares of Tessera Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.00.
Shares of Tessera Technologies (NASDAQ:TSRA) traded down 0.08% during midday trading on Friday, hitting $39.07. The stock had a trading volume of 327,927 shares. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 20.51 and a beta of 1.01. The stock’s 50-day moving average price is $35.14 and its 200 day moving average price is $32.08. Tessera Technologies has a 52 week low of $26.21 and a 52 week high of $39.49.
Tessera Technologies (NASDAQ:TSRA) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $67.02 million for the quarter, compared to analysts’ expectations of $65.17 million. During the same quarter last year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Tessera Technologies will post $2.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders 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 annualized dividend and a yield of 2.05%. Tessera Technologies’s dividend payout ratio (DPR) is 42.11%.
In other Tessera Technologies news, Director Richard Hill sold 25,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $32.09, for a total value of $802,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas A. Lacey sold 40,000 shares of the 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 disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in Tessera Technologies by 3.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,239 shares of the company’s stock valued at $191,000 after buying an additional 214 shares during the period. Quantbot Technologies LP raised its stake in Tessera Technologies by 104.6% in the second quarter. Quantbot Technologies LP now owns 6,500 shares of the company’s stock valued at $199,000 after buying an additional 3,323 shares during the period. Teacher Retirement System of Texas raised its stake in Tessera Technologies by 25.5% in the second quarter. Teacher Retirement System of Texas now owns 7,038 shares of the company’s stock valued at $216,000 after buying an additional 1,428 shares during the period. Cubist Systematic Strategies LLC raised its stake 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 period. Finally, Virginia Retirement Systems ET AL purchased a new stake in Tessera Technologies during the second quarter valued at approximately $245,000. Hedge funds and other 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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