Shares of Tessera Holding Corporation (NASDAQ:XPER) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.95 and last traded at $21.90, with a volume of 214,618 shares traded. The stock had previously closed at $22.40.

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

The stock has a 50 day moving average price of $25.81 and a 200 day moving average price of $29.57. The stock’s market cap is $1.08 billion.

Tessera Holding Corporation (NASDAQ:XPER) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $91.32 million for the quarter, compared to analysts’ expectations of $90.33 million. Tessera Holding Corporation had a positive return on equity of 11.06% and a negative net margin of 12.22%. The company’s revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, equities research analysts predict that Tessera Holding Corporation will post $1.29 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new stake in Tessera Holding Corporation during the 1st quarter valued at $118,000. UBS Group AG acquired a new stake in Tessera Holding Corporation during the 1st quarter valued at $131,000. Ameritas Investment Partners Inc. acquired a new stake in Tessera Holding Corporation during the 1st quarter valued at $144,000. Flinton Capital Management LLC grew its holdings in 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 valued at $144,000 after buying an additional 1,904 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in Tessera Holding Corporation by 68.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,897 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 1,997 shares during the last quarter. Institutional investors and hedge funds own 99.96% of the company’s stock.

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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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