First Mercantile Trust Co Lowers stake in Tessera Technologies (TSRA)

Tessera Technologies (TSRA) : First Mercantile Trust Co reduced its stake in Tessera Technologies by 17.6% during the most recent quarter end. The investment management company now holds a total of 12,265 shares of Tessera Technologies which is valued at $478,580 after selling 2,619 shares in Tessera Technologies , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Tessera Technologies makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in TSRA by selling 6,971 shares or 43.19% in the most recent quarter. The Hedge Fund company now holds 9,171 shares of TSRA which is valued at $356,385.

Tessera Technologies closed down -0.08 points or -0.20% at $39.02 with 4,51,327 shares getting traded on Friday. Post opening the session at $39.08, the shares hit an intraday low of $38.5 and an intraday high of $39.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Tessera Technologies reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.56. The company had revenue of $67.02 million for the quarter, compared to analysts expectations of $65.17 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

Tessera Technologies Inc. is a holding company. The Company operates its business through its subsidiaries which include Invensas Corporation (Invensas) which is engaged in semiconductor interconnect innovation and intellectual property licensing and FotoNation Limited (FotoNation) which provides face-oriented imaging technologies. Its technologies include semiconductor packaging and interconnect solutions and products and solutions for mobile and imaging including its LifeFocus FaceTools FacePower FotoSavvy DigitalAperture face beautification red-eye removal high dynamic range autofocus panorama and image stabilization intellectual property. Its packaging capabilities include a low-temperature wafer bonding technology platform that manages the delivery of 2.5-dimensional (2.5D) and three-dimensional integrated circuit (3D-IC) solutions. The Company’s 2.5D and 3D-IC solutions include ZiBond direct bonding and DBI hybrid bonding technologies.

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