Tessera Technologies Inc. (TSRA) Given a $45.00 Price Target at Benchmark Co.
Tessera Technologies Inc. (NASDAQ:TSRA) has been assigned a $45.00 price target by equities researchers at Benchmark Co. in a research note issued to investors on Friday. The brokerage presently has a a “buy” rating on the stock. Benchmark Co.’s price target points to a potential upside of 15.09% from the stock’s previous close.
Separately, Zacks Investment Research raised Tessera Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $44.00.
Shares of Tessera Technologies (NASDAQ:TSRA) traded down 0.08% during mid-day trading on Friday, hitting $39.07. The company’s stock had a trading volume of 327,927 shares. The company has a 50-day moving average of $35.14 and a 200 day moving average of $32.08. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 20.51 and a beta of 1.01. Tessera Technologies has a 1-year low of $26.21 and a 1-year high of $39.49.
Tessera Technologies (NASDAQ:TSRA) last released its earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Tessera Technologies’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, analysts expect that Tessera Technologies will post $2.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, August 18th. Tessera Technologies’s dividend payout ratio (DPR) is presently 42.11%.
In other Tessera Technologies news, VP Robert J. Andersen sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.15, for a total transaction of $265,200.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Hill sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $32.09, for a total value of $802,250.00. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in 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 worth $288,000 after buying an additional 210 shares during the period. 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 worth $191,000 after buying an additional 214 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Tessera Technologies by 4.1% in the second quarter. Cubist Systematic Strategies LLC now owns 7,859 shares of the company’s stock worth $241,000 after buying an additional 310 shares during the period. Guggenheim Capital LLC increased its position in shares of Tessera Technologies by 0.3% in the second quarter. Guggenheim Capital LLC now owns 99,246 shares of the company’s stock worth $3,041,000 after buying an additional 315 shares during the period. Finally, United Services Automobile Association increased its position in shares of Tessera Technologies by 1.4% in the second quarter. United Services Automobile Association now owns 25,280 shares of the company’s stock worth $775,000 after buying an additional 340 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
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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