Tessera Holding Corporation (XPER) Hits New 52-Week Low at $22.85

Tessera Holding Corporation (NASDAQ:XPER) reached a new 52-week low on Wednesday . The stock traded as low as $22.85 and last traded at $22.78, with a volume of 1,251,936 shares trading hands. The stock had previously closed at $26.35.

Separately, Zacks Investment Research cut shares of Tessera Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st.

Tessera Holding Corporation (NASDAQ:XPER) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. Tessera Holding Corporation had a negative net margin of 12.22% and a positive return on equity of 11.06%. The business had revenue of $91.32 million for the quarter, compared to analyst estimates of $90.33 million. During the same quarter in the prior year, the business earned $0.60 EPS. Tessera Holding Corporation’s quarterly revenue was up 36.3% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new position in shares of Tessera Holding Corporation during the 2nd quarter worth approximately $319,000. State Street Corp grew its position in shares of Tessera Holding Corporation by 2.6% during the 2nd quarter. State Street Corp now owns 1,251,469 shares of the semiconductor company’s stock worth $37,298,000 after purchasing an additional 31,672 shares in the last quarter. Flinton Capital Management LLC grew its position in shares of Tessera Holding Corporation by 65.1% during the 2nd quarter. Flinton Capital Management LLC now owns 4,828 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 1,904 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in shares of Tessera Holding Corporation during the 2nd quarter worth approximately $276,000. Finally, Pinebridge Investments L.P. grew its position in shares of Tessera Holding Corporation by 1.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 6,515 shares of the semiconductor company’s stock worth $194,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 99.96% of the company’s stock.

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About Tessera Holding Corporation

Tessera Holding Corporation is a product and technology licensing company. The Company’s technologies and intellectual property are deployed, in areas, such as audio, computational imaging, computer vision, mobile computing and communications, memory, data storage, three dimensional (3D) semiconductor interconnect and packaging.

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