Benchmark Co. set a $45.00 price target on Tessera Technologies Inc. (NASDAQ:TSRA) in a research report report published on Friday morning. The firm currently has a a buy rating on the stock.
Separately, Zacks Investment Research raised shares of Tessera Technologies from a sell rating to a hold rating in a report on Thursday, September 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Tessera Technologies has an average rating of Buy and an average target price of $44.00.
Tessera Technologies (NASDAQ:TSRA) opened at 38.54 on Friday. The firm’s 50-day moving average price is $35.65 and its 200 day moving average price is $32.26. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 20.23 and a beta of 1.01. Tessera Technologies has a 12-month low of $26.21 and a 12-month high of $39.49.
Tessera Technologies (NASDAQ:TSRA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The firm had revenue of $67.02 million for the quarter, compared to analysts’ expectations of $65.17 million. During the same period in the previous year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Tessera Technologies will post $2.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were issued 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 2.08%. Tessera Technologies’s payout ratio is 42.11%.
In related news, CEO Thomas A. Lacey sold 40,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $33.15, for a total value of $1,326,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard Hill sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $32.09, for a total transaction of $802,250.00. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TSRA. Foundry Partners LLC raised its position in shares of Tessera Technologies by 15.0% in the third quarter. Foundry Partners LLC now owns 9,830 shares of the company’s stock worth $378,000 after buying an additional 1,285 shares during the period. Mason Street Advisors LLC bought a new position in shares of Tessera Technologies during the second quarter worth approximately $276,000. Public Employees Retirement System of Ohio raised its position in shares of Tessera Technologies by 36.7% in the second quarter. Public Employees Retirement System of Ohio now owns 100,722 shares of the company’s stock worth $3,086,000 after buying an additional 27,019 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Tessera Technologies by 14.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 293,567 shares of the company’s stock worth $8,995,000 after buying an additional 37,739 shares during the period. Finally, Fiera Capital Corp bought a new position in shares of Tessera Technologies during the second quarter worth approximately $7,403,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
Tessera Technologies Company Profile