Capital Fund Management S.A. reduced its position in shares of Tessera Technologies Inc. (NASDAQ:TSRA) by 35.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,120 shares of the company’s stock after selling 34,300 shares during the period. Capital Fund Management S.A.’s holdings in Tessera Technologies were worth $1,934,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TSRA. Bayesian Capital Management LP acquired a new position in Tessera Technologies during the first quarter worth about $248,000. 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 worth $251,000 after buying an additional 430 shares in the last quarter. James Investment Research Inc. boosted its position in Tessera Technologies by 2.3% in the second quarter. James Investment Research Inc. now owns 9,405 shares of the company’s stock worth $288,000 after buying an additional 210 shares in the last quarter. Fox Run Management L.L.C. boosted its position in 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 worth $389,000 after buying an additional 2,100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Tessera Technologies by 90.9% in the second quarter. BNP Paribas Arbitrage SA now owns 16,142 shares of the company’s stock worth $495,000 after buying an additional 7,688 shares in the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.
Tessera Technologies Inc. (NASDAQ:TSRA) traded up 0.62% during mid-day trading on Thursday, hitting $39.10. The stock had a trading volume of 290,067 shares. The company’s 50 day moving average price is $34.95 and its 200 day moving average price is $32.03. The firm has a market cap of $1.90 billion, a PE ratio of 20.52 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.
Tessera Technologies (NASDAQ:TSRA) last posted its earnings results on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company 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 firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 earnings per share. Analysts anticipate that Tessera Technologies Inc. will post $2.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. Tessera Technologies’s dividend payout ratio is currently 42.11%.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Tessera Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. Benchmark Co. reiterated a “buy” rating and issued a $45.00 target price on shares of Tessera Technologies in a research report on Wednesday, September 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.00.
In other Tessera Technologies news, VP Robert J. Andersen sold 21,521 shares of the company’s stock in a transaction that occurred 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 directly owns 85,805 shares in the company, valued at $3,003,175. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas A. Lacey sold 40,000 shares of the company’s stock in a transaction that occurred 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. 1.20% of the stock is 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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