Tessera Technologies Inc. (NASDAQ:TSRA)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark Co. in a note issued to investors on Wednesday. They presently have a $45.00 price objective on the stock. Benchmark Co.’s target price would indicate a potential upside of 17.19% from the company’s previous close.
The analysts wrote, “We believe DTS is an indication of management dedication to do so.””
Separately, Zacks Investment Research raised Tessera Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $44.00.
Shares of Tessera Technologies (NASDAQ:TSRA) opened at 38.40 on Wednesday. The stock’s 50 day moving average price is $33.37 and its 200-day moving average price is $31.49. The company has a market cap of $1.87 billion, a P/E ratio of 20.16 and a beta of 1.14. Tessera Technologies has a 52-week low of $26.21 and a 52-week high of $38.88.
Tessera Technologies (NASDAQ:TSRA) last posted its earnings results on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Tessera Technologies had a return on equity of 21.80% and a net margin of 37.81%. The company had revenue of $67.02 million for the quarter, compared to the consensus estimate of $65.17 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts expect that Tessera Technologies will post $2.21 EPS for the current 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, August 18th. Tessera Technologies’s dividend payout ratio is currently 42.11%.
In other Tessera Technologies 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 sale, the vice president now owns 85,805 shares of the company’s stock, valued at approximately $3,003,175. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George Andrew Riedel sold 4,500 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were 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 directly owns 28,180 shares in the company, valued at approximately $920,922.40. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Tessera Technologies by 3.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,239 shares of the company’s stock worth $191,000 after buying an additional 214 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Tessera Technologies by 104.6% in the second quarter. Quantbot Technologies LP now owns 6,500 shares of the company’s stock worth $199,000 after buying an additional 3,323 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Tessera Technologies by 25.5% in the second quarter. Teacher Retirement System of Texas now owns 7,038 shares of the company’s stock worth $216,000 after buying an additional 1,428 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Tessera Technologies during the first quarter worth $233,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Tessera Technologies by 4.1% in the second quarter. Cubist Systematic Strategies LLC now owns 7,859 shares of the company’s stock worth $241,000 after buying an additional 310 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
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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