PNC Financial Services Group Inc. boosted its stake in Tessera Technologies Inc. (NASDAQ:TSRA) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 6,239 shares of the company’s stock after buying an additional 214 shares during the period. PNC Financial Services Group Inc.’s holdings in Tessera Technologies were worth $191,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the company. Aperio Group LLC boosted its position in 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Tessera Technologies by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 258,675 shares of the company’s stock valued at $8,019,000 after buying an additional 1,265 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Tessera Technologies by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 290,292 shares of the company’s stock valued at $8,999,000 after buying an additional 1,260 shares in the last quarter. Teachers Advisors Inc. boosted its position in Tessera Technologies by 3.8% in the first quarter. Teachers Advisors Inc. now owns 473,496 shares of the company’s stock valued at $14,678,000 after buying an additional 17,505 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Tessera Technologies by 11.6% in the first quarter. JPMorgan Chase & Co. now owns 64,128 shares of the company’s stock valued at $1,988,000 after buying an additional 6,678 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.41% during mid-day trading on Thursday, reaching $39.02. 110,208 shares of the company’s stock traded hands. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 20.48 and a beta of 1.01. Tessera Technologies Inc. has a 52 week low of $26.21 and a 52 week high of $39.49. The company’s 50 day moving average is $34.95 and its 200-day moving average is $32.03.
Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping 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 had revenue of $67.02 million for the quarter, compared to analyst estimates of $65.17 million. During the same period last year, the business posted $0.58 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Tessera Technologies Inc. will post $2.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.06%. Tessera Technologies’s payout ratio is 42.11%.
Several research analysts have issued reports on TSRA shares. Zacks Investment Research raised Tessera Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, September 21st. Benchmark Co. reaffirmed a “buy” rating and issued a $45.00 price target on shares of Tessera Technologies in a report on Wednesday, September 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Tessera Technologies presently has a consensus rating of “Buy” and an average target price of $44.00.
In other Tessera Technologies news, VP Robert J. Andersen sold 21,521 shares of Tessera Technologies stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $35.00, for a total value of $753,235.00. Following the sale, the vice president now directly owns 85,805 shares in the company, valued at approximately $3,003,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Andrew Riedel sold 4,500 shares of Tessera Technologies stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $32.68, for a total transaction of $147,060.00. Following the completion of the sale, the director now owns 28,180 shares in the company, valued at $920,922.40. The disclosure for this sale can be found here. Corporate 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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