Tessera Holding Corporation (NASDAQ:XPER) dropped 0% on Thursday . The company traded as low as $22.12 and last traded at $22.67. Approximately 149,723 shares were traded during trading, a decline of 69% from the average daily volume of 482,453 shares. The stock had previously closed at $22.68.

Separately, Zacks Investment Research downgraded Tessera Holding Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st.

The company has a 50-day moving average of $27.20 and a 200-day moving average of $31.66. The company’s market cap is $1.13 billion.

Tessera Holding Corporation (NASDAQ:XPER) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.36 earnings per share for the quarter, topping 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 company had revenue of $91.32 million for the quarter, compared to analyst estimates of $90.33 million. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. Analysts expect that Tessera Holding Corporation will post $1.29 EPS for the current year.

Large investors have recently modified their holdings of the company. Bank of America Corp DE purchased a new position in shares of Tessera Holding Corporation during the first quarter worth approximately $40,560,000. Janus Capital Management LLC purchased a new position in shares of Tessera Holding Corporation during the first quarter worth approximately $50,719,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Tessera Holding Corporation during the first quarter worth approximately $11,520,000. Ashford Capital Management Inc. purchased a new position in shares of Tessera Holding Corporation during the first quarter worth approximately $9,170,000. Finally, OppenheimerFunds Inc. purchased a new position in shares of Tessera Holding Corporation during the first quarter worth approximately $227,000. 99.96% of the stock is currently owned by institutional investors and hedge funds.

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Tessera Holding Corporation Company Profile

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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