According to Zacks, “Tessera is a provider of back-end technology for semiconductor manufacturing. Tessera posted better-than-expected second quarter results with both the top line and the bottom line outperforming our estimates. The company is focused on building a high-margin licensing model and therefore the host of patents, new technologies and customer wins are encouraging. The product portfolio has also been revamped to target the mobile segment, which should help growth. Its deal with ASE also has tremendous potential. However, protection of IP, its pricing strategy and customer concentration remain risks.”
Shares of Tessera Technologies (NASDAQ:TSRA) opened at 37.77 on Wednesday. Tessera Technologies has a 1-year low of $26.21 and a 1-year high of $38.88. The stock’s 50 day moving average price is $33.55 and its 200 day moving average price is $31.54. The stock has a market cap of $1.83 billion, a PE ratio of 19.83 and a beta of 1.14.
Tessera Technologies (NASDAQ:TSRA) last announced 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. The business had revenue of $67.02 million for the quarter, compared to the consensus estimate of $65.17 million. Tessera Technologies had a return on equity of 21.80% and a net margin of 37.81%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. On average, equities research analysts anticipate that Tessera Technologies will post $2.24 EPS for the current fiscal year.
The business also recently announced 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 annualized dividend and a dividend yield of 2.12%. Tessera Technologies’s payout ratio is currently 42.11%.
In related news, Director Richard Hill sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $32.09, for a total transaction of $802,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Chenault sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $32.25, for a total value of $483,750.00. Following the sale, the director now owns 14,780 shares in the company, valued at $476,655. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several large investors have recently made changes to their positions in TSRA. Chartwell Investment Partners LLC acquired a new stake in shares of Tessera Technologies during the second quarter worth $19,271,000. Renaissance Technologies LLC raised its stake in shares of Tessera Technologies by 18.9% in the first quarter. Renaissance Technologies LLC now owns 2,179,914 shares of the company’s stock worth $67,577,000 after buying an additional 346,700 shares during the period. Penn Capital Management Co. Inc. raised its stake in shares of Tessera Technologies by 99.5% in the second quarter. Penn Capital Management Co. Inc. now owns 654,900 shares of the company’s stock worth $20,237,000 after buying an additional 326,689 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Tessera Technologies during the second quarter worth $8,669,000. Finally, Fiera Capital Corp acquired a new stake in shares of Tessera Technologies during the second quarter worth $7,403,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
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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