Louisiana State Employees Retirement System decreased its stake in Tessera Technologies Inc. (NASDAQ:TSRA) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,400 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Tessera Technologies were worth $625,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of TSRA. Bayesian Capital Management LP acquired a new stake in shares of Tessera Technologies during the first quarter valued at 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 valued at $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 valued at $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 valued at $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 valued at $495,000 after buying an additional 7,688 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.
Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.08% during trading on Friday, reaching $37.82. The company’s stock had a trading volume of 213,794 shares. The stock’s 50-day moving average is $36.05 and its 200 day moving average is $32.40. Tessera Technologies Inc. has a 12 month low of $26.21 and a 12 month high of $39.49. The company has a market cap of $1.84 billion, a P/E ratio of 19.85 and a beta of 1.01.
Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 earnings per share for the quarter, topping the 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 had revenue of $67.02 million for the quarter, compared to analysts’ expectations of $65.17 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Tessera Technologies’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Tessera Technologies Inc. will post $2.24 EPS for the current fiscal year.
Several analysts recently commented on TSRA shares. Benchmark Co. reaffirmed a “buy” rating and set a $45.00 price objective on shares of Tessera Technologies in a research note on Wednesday, September 21st. Zacks Investment Research cut Tessera Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.00.
In related news, Director George Andrew Riedel sold 4,500 shares of the business’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 transaction, the director now owns 28,180 shares in the company, valued at $920,922.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert J. Andersen sold 8,000 shares of the business’s stock in a transaction on 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. 1.20% of the stock is currently owned by corporate insiders.
About Tessera Technologies
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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