Dimensional Fund Advisors LP boosted its stake in Tessera Technologies Inc. (NASDAQ:TSRA) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,780,489 shares of the company’s stock after buying an additional 122,462 shares during the period. Dimensional Fund Advisors LP owned approximately 3.67% of Tessera Technologies worth $54,553,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. James Investment Research Inc. raised 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 in the last quarter. PNC Financial Services Group Inc. raised its position in 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 during the period. Aperio Group LLC raised 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 worth $251,000 after buying an additional 430 shares during the period. Suntrust Banks Inc. raised its position in Tessera Technologies by 8.0% in the second quarter. Suntrust Banks Inc. now owns 8,236 shares of the company’s stock worth $251,000 after buying an additional 608 shares during the period. Finally, Capstone Asset Management Co. raised its position in Tessera Technologies by 7.4% in the second quarter. Capstone Asset Management Co. now owns 17,465 shares of the company’s stock worth $535,000 after buying an additional 1,200 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.
Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.57% during mid-day trading on Thursday, hitting $39.08. The company’s stock had a trading volume of 39,936 shares. 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 $1.90 billion, a P/E ratio of 20.51 and a beta of 1.01. The firm’s 50-day moving average is $34.95 and its 200-day moving average is $32.03.
Tessera Technologies (NASDAQ:TSRA) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business earned $67.02 million during the quarter, compared to analysts’ expectations of $65.17 million. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. Analysts predict that Tessera Technologies Inc. will post $2.24 EPS for the current fiscal year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 2.06%. Tessera Technologies’s dividend payout ratio (DPR) is currently 42.11%.
A number of research firms recently weighed in on TSRA. Zacks Investment Research raised Tessera Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. Benchmark Co. reaffirmed a “buy” rating and set a $45.00 price objective on shares of Tessera Technologies in a research report on Wednesday, September 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.00.
In other news, CEO Thomas A. Lacey sold 40,000 shares of Tessera Technologies stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.15, for a total transaction of $1,326,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Andrew Riedel sold 4,500 shares of Tessera Technologies stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $32.68, for a total transaction of $147,060.00. Following the sale, the director now directly owns 28,180 shares of the company’s stock, valued at $920,922.40. 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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