UBS Asset Management Americas Inc. increased its position in shares of Tessera Technologies Inc. (NASDAQ:TSRA) by 14.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,296 shares of the company’s stock after buying an additional 4,300 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.07% of Tessera Technologies worth $1,020,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Chartwell Investment Partners LLC bought a new stake in shares of Tessera Technologies during the second quarter worth about $19,271,000. Renaissance Technologies LLC raised its stake in shares of Tessera Technologies by 18.9% in the first quarter. Renaissance Technologies LLC now owns 2,179,914 shares of the company’s stock worth $67,577,000 after buying an additional 346,700 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Tessera Technologies during the second quarter worth about $8,669,000. Glenmede Trust Co. NA raised its stake in shares of Tessera Technologies by 16.1% in the second quarter. Glenmede Trust Co. NA now owns 1,213,061 shares of the company’s stock worth $37,166,000 after buying an additional 167,850 shares during the period. Finally, Granahan Investment Management Inc. MA bought a new stake in shares of Tessera Technologies during the first quarter worth about $5,054,000. Institutional investors and hedge funds own 97.83% of the company’s stock.
Shares of Tessera Technologies Inc. (NASDAQ:TSRA) opened at 37.50 on Tuesday. The company’s 50-day moving average is $36.15 and its 200 day moving average is $32.47. Tessera Technologies Inc. has a 1-year low of $26.21 and a 1-year high of $39.49. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 19.69 and a beta of 1.01.
Tessera Technologies (NASDAQ:TSRA) last posted 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. Tessera Technologies had a net margin of 37.81% and a return on equity of 21.80%. The business had revenue of $67.02 million for the quarter, compared to analyst estimates of $65.17 million. During the same period last year, the business posted $0.58 EPS. Tessera Technologies’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Tessera Technologies Inc. will post $2.24 EPS for the current fiscal year.
Several equities research analysts recently weighed in on TSRA shares. Benchmark Co. reiterated a “buy” rating and set a $45.00 price objective on shares of Tessera Technologies in a research note on Wednesday, September 21st. Zacks Investment Research lowered shares of Tessera Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Tessera Technologies has an average rating of “Buy” and a consensus price target of $44.00.
In other Tessera Technologies news, CEO Thomas A. Lacey sold 40,000 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.15, for a total value of $1,326,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert J. Andersen sold 21,521 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $35.00, for a total transaction of $753,235.00. Following the completion of the sale, the vice president now owns 85,805 shares in the company, valued at $3,003,175. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Tessera Technologies Company Profile
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.