Price Action to Note: Will Tessera Technologies, Inc. Run Out of Steam Soon?

Price Action to Note: Will Tessera Technologies, Inc. Run Out of Steam Soon?

The stock of Tessera Technologies, Inc. (NASDAQ:TSRA) hit a new 52-week high and has $58.48 target or 51.00% above today’s $38.73 share price. The 9 months bullish chart indicates low risk for the $1.90B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $58.48 price target is reached, the company will be worth $969.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 340,715 shares traded hands. Tessera Technologies, Inc. (NASDAQ:TSRA) has risen 30.39% since February 29, 2016 and is uptrending. It has outperformed by 18.18% the S&P500.

Analysts await Tessera Technologies, Inc. (NASDAQ:TSRA) to report earnings on November, 1. They expect $0.46 earnings per share, down 24.59% or $0.15 from last year’s $0.61 per share. TSRA’s profit will be $22.57 million for 21.04 P/E if the $0.46 EPS becomes a reality. After $0.55 actual earnings per share reported by Tessera Technologies, Inc. for the previous quarter, Wall Street now forecasts -16.36% negative EPS growth.

According to Zacks Investment Research, “Tessera Technologies develops semiconductor packaging technology that meets the demand for miniaturization and increased performance of electronic products. Tessera licenses its technology to its customers, enabling them to produce semiconductors that are smaller and faster, and incorporate more features. These semiconductors are utilized in a broad range of communications, computing and consumer electronic products.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.36, from 1.3 in 2016Q1. The ratio dived, as 19 funds sold all Tessera Technologies, Inc. shares owned while 81 reduced positions. 29 funds bought stakes while 65 increased positions. They now own 46.18 million shares or 1.94% less from 47.09 million shares in 2016Q1.
Moreover, Prudential Plc has 0.12% invested in Tessera Technologies, Inc. (NASDAQ:TSRA) for 1.03 million shares. Frontier Limited Company last reported 2.04 million shares in the company. Cornerstone Holdings Lc holds 0% of its portfolio in Tessera Technologies, Inc. (NASDAQ:TSRA) for 11,479 shares. First Trust Advsr Limited Partnership holds 0.01% or 69,045 shares in its portfolio. Teacher Retirement System Of Texas accumulated 0% or 7,038 shares. Cubist Systematic Strategies Ltd Liability, a Connecticut-based fund reported 7,859 shares. Eaton Vance Management has 28,467 shares for 0% of their US portfolio. Ladenburg Thalmann Fincl Services holds 412 shares or 0% of its portfolio. Aqr Cap Mngmt Ltd Limited Liability Company, a Connecticut-based fund reported 111,741 shares. Wellington Mngmt Grp Limited Liability Partnership owns 215,027 shares or 0% of their US portfolio. Fiera Capital reported 241,619 shares or 0.04% of all its holdings. Suntrust Banks accumulated 0% or 8,236 shares. Princeton Alpha Management Ltd Partnership holds 0.04% of its portfolio in Tessera Technologies, Inc. (NASDAQ:TSRA) for 7,624 shares. Blackrock Inc accumulated 0% or 55,810 shares. Ubs Asset Mngmt Americas reported 33,296 shares or 0% of all its holdings.

More important recent Tessera Technologies, Inc. (NASDAQ:TSRA) news were published by: Latimes.com which released: “Tessera Technologies to buy DTS of Calabasas for $850 million” on September 20, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Tessera Technologies, Symantec and West”, Seekingalpha.com published: “Tessera: IP Assets Seem Ready For A Re-Rating” on September 28, 2016. More interesting news about Tessera Technologies, Inc. (NASDAQ:TSRA) was released by: Streetinsider.com and their article: “Tessera Technologies (TSRA) to Acquire DTS (DTSI) for $850M” with publication date: September 20, 2016.

TSRA Company Profile

Tessera Technologies, Inc., incorporated on July 26, 2002, including its subsidiaries, Invensas Corporation (Invensas), FotoNation Limited (FotoNation) and Ziptronix, Inc. (Ziptronix), licenses its technologies and intellectual property to clients for use in areas, such as mobile computing and communications, memory and data storage, and three dimensional (3-D) Integrated Circuit (3D-IC) technologies. The Company’s technologies include semiconductor packaging and interconnect solutions, including xFD, BVA, ZiBond and DBI, and products and solutions for mobile and computational imaging, including its FaceTools, FacePower, FotoSavvy, DigitalAperture, IrisCam, LifeFocus, face beautification, red-eye removal, High Dynamic Range, autofocus, panorama and image stabilization intellectual property.

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