Victory Capital Management Inc. boosted its stake in Tessera Technologies Inc. (NASDAQ:TSRA) by 17.6% during the second quarter, Holdings Channel reports. The fund owned 12,984 shares of the company’s stock after buying an additional 1,944 shares during the period. Victory Capital Management Inc.’s holdings in Tessera Technologies were worth $398,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of TSRA. James Investment Research Inc. increased its position 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. PNC Financial Services Group Inc. increased its position 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 valued at $191,000 after buying an additional 214 shares during the last quarter. Aperio Group LLC increased its position 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. Suntrust Banks Inc. increased its position in shares of Tessera Technologies by 8.0% in the second quarter. Suntrust Banks Inc. now owns 8,236 shares of the company’s stock valued at $251,000 after buying an additional 608 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Tessera Technologies by 7.4% in the second quarter. Capstone Asset Management Co. now owns 17,465 shares of the company’s stock valued at $535,000 after buying an additional 1,200 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors.
Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.81% during mid-day trading on Friday, reaching $38.44. 467,955 shares of the company traded hands. The company’s 50 day moving average price is $34.41 and its 200 day moving average price is $31.84. The firm has a market capitalization of $1.87 billion, a P/E ratio of 20.18 and a beta of 1.14. Tessera Technologies Inc. has a 12-month low of $26.21 and a 12-month 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 analysts’ consensus estimates of $0.56 by $0.04. The firm earned $67.02 million during 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS. Equities research analysts predict that Tessera Technologies Inc. will post $2.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were given 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 2.08%. Tessera Technologies’s dividend payout ratio is currently 42.11%.
Several brokerages recently commented on TSRA. Zacks Investment Research raised shares of Tessera Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Benchmark Co. reaffirmed a “buy” rating and issued a $45.00 target price on shares of Tessera Technologies in a research note on Wednesday, September 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $44.00.
In related news, VP Robert J. Andersen sold 21,521 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $35.00, for a total transaction of $753,235.00. Following the sale, the vice president now owns 85,805 shares in the company, valued at approximately $3,003,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas A. Lacey sold 40,000 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.15, for a total value of $1,326,000.00. The disclosure for this sale can be found here. Insiders own 1.20% 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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