Clearline Capital Lp Lowers stake in Tessera Technologies (TSRA)

Tessera Technologies (TSRA) : Clearline Capital Lp reduced its stake in Tessera Technologies by 30.96% during the most recent quarter end. The investment management company now holds a total of 941,578 shares of Tessera Technologies which is valued at $30,394,138 after selling 422,261 shares in Tessera Technologies , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Tessera Technologies makes up approximately 7.02% of Clearline Capital Lp’s portfolio.

Other Hedge Funds, Including , Public Sector Pension Investment Board reduced its stake in TSRA by selling 1,100 shares or 3.26% in the most recent quarter. The Hedge Fund company now holds 32,675 shares of TSRA which is valued at $1,054,749. Tessera Technologies makes up approx 0.01% of Public Sector Pension Investment Board’s portfolio. Lsv Asset Management added TSRA to its portfolio by purchasing 29,205 company shares during the most recent quarter which is valued at $932,516.State Board Of Administration Of Florida Retirement System reduced its stake in TSRA by selling 2,103 shares or 5.1% in the most recent quarter. The Hedge Fund company now holds 39,148 shares of TSRA which is valued at $1,249,996. Kanaly Trust Co added TSRA to its portfolio by purchasing 106 company shares during the most recent quarter which is valued at $3,371.

Tessera Technologies opened for trading at $33.53 and hit $33.83 on the upside on Thursday, eventually ending the session at $33.71, with a gain of 0.51% or 0.17 points. The heightened volatility saw the trading volume jump to 2,68,739 shares. Company has a market cap of $1,637 M.

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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