Aug. 4, 2015, 2:16 PM
- Tessera (NASDAQ:TSRA) has rallied above $38 after beating Q2 estimates and guiding for Q3 revenue of $64M-$66M and EPS of $0.55-$0.57, above a consensus of $62.6M and $0.48.
- Boosting Q2 EPS: Operating expenses fell 25% Y/Y to $27.4M. A 66% drop in litigation spend to $3.5M (thanks to multiple settlements) helped, as did a 9% drop in R&D/SG&A spend to $19M. Also: $25M was spent to buy back 645K shares.
- Tessera notes its Invensas chip packaging IP unit is "actively involved" with chip manufacturers to commercialize its xFD and BVA packaging technologies, and that its FotoNation photo/imaging IP unit is working on new biometric and auto market products.
- Q2 results, PR
May 6, 2015, 3:31 PM
- Today's notable tech gainers include LED/chip equipment maker Aixtron (AIXG +6.7%), distributed power system/software firm PowerSecure (POWR +7.2%), cloud customer support software vendor Zendesk (ZEN +5%), and chip packaging IP firm Tessera (TSRA +4.9%).
- Notable decliners include LED giant Cree (CREE -4.2%), 3D printer maker ExOne (XONE -5.6%), big data/analytics software provider Hortonworks (HDP -5.7%), health site owner Everyday Health (EVDY -7.7%), and IP licensing firm WiLAN (WILN -6%). The Nasdaq is down 0.7%.
- PowerSecure is up after beating Q1 estimates on the back of major increases in Distributed Generation and Solar Energy segment sales. Zendesk is up after posting a Q1 beat and guiding for full-year revenue of $192M-$195M (above a $189.6M consensus). Tessera is rallying thanks to a Q1 beat and strong Q2 guidance (revenue of $62M-$64M and EPS of $0.47-$0.50 vs. a consensus of $$57.3M and $0.40).
- Cree is adding to the losses seen two weeks ago after it posted mixed results and light guidance. ExOne's drop comes after larger rival 3D Systems declined to provide guidance with its Q1 results. Everyday has been downgraded to Hold by Stifel. WiLAN is adding to last week's post-earnings losses.
- Previously covered: Zulily, Groupon, Axcelis, QuinStreet, Skullcandy, Millennial Media, LendingClub, TechTarget, Anadigics, Zagg, Cray, Enphase, Wix.com, Jive Software
Mar. 25, 2015, 12:03 PM
- Chip stocks are particularly hard-hit (SOXX -3.6%) on a rough day for tech. The Nasdaq is down 1.3%, and the S&P 0.7%. Going into today, good earnings reports and ongoing M&A activity had led the Philadelphia Semi Index to rise 10% from its Jan. 30 close; the index remains up nearly 2x from its fall 2012 lows.
- AMD (AMD -7.2%) is a major decliner following a UBS downgrade. AMD rival/GPU giant Nvidia (NVDA -5.2%) and memory giant Micron (MU -3.7%) are also selling off, as are merger partners NXP (NXPI -3.8%) and Freescale (FSL -3.4%), RF chipmakers Avago (AVGO -5.2%), Skyworks (SWKS -5.3%), and Qorvo (QRVO -7.1%), LED/RF chipmaker Cree (CREE -4.1%), and high-flying video processor developer Ambarella (AMBA -4.3%).
- Other decliners include telecom chipmakers/ARM server CPU vendors Cavium (CAVM -4.8%) and AppliedMicro (AMCC -4.4%), microcontroller vendors Atmel (ATML -3.5%), Cypress (CY -5.5%), and STMicroelectronics (STM -3.5%), voice processor developer Audience (ADNC -3.7%), analog/mixed-signal chipmakers Linear (LLTC -3.7%), Maxim (MXIM -3%), and Intersil (ISIL -3.5%), FPGA maker Lattice (LSCC -3.9%), and mixed-signal/wireless charging IC developer IDT (IDTI -5.4%).
- Chip equipment, IP, and foundry providers are also underperforming. Big decliners include ARM (ARMH -4.4%), KLA-Tencor (KLAC -4.2%), Lam Research (LRCX -5.4%), ASML (ASML -4.1%), TowerJazz (TSEM -4.3%), Mattson (MTSN -4.5%), Ultratech (UTEK -4.7%), and Tessera (TSRA -6.1%). ASML has been downgraded to Hold by Banco Santander.
- TSMC (TSM -4.6%) is among the decliners in spite of a Digitimes report stating the foundry giant's sales are expected to rise 0%-5% Q/Q in Q2 - consensus is for a 2% drop - with strong Apple A8 CPU orders offsetting soft Qualcomm Snapdragon 810 orders.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Mar. 4, 2015, 3:01 PM
- Today's notable tech gainers include Chinese online classifieds leader 58.com (WUBA +5.9%), CDN owner Limelight (LLNW +6.5%), account-protection software provider CyberArk (CYBR +3.2%), flash storage array vendor Violin Memory (VMEM +3.8%), online video ad platform Tremor Video (TRMR +4%), and Chinese mobile game publisher Sky-mobi (MOBI +11.9%).
- Notable decliners include cloud HR/financials software leader Workday (WDAY -5.8%), systems management software vendor SolarWinds (SWI -3.8%), chip packaging IP firm Tessera (TSRA -4.3%), security hardware/software provider KEYW Holding (KEYW -3.7%), and Chinese online real estate play E-House (EJ -4%). The Nasdaq is down 0.2%.
- Sky-mobi has flown higher since Rosenblatt Securities pounded the table for the company last week. Workday has fallen sharply since last week's FQ4 revenue beat. E-House has gradually declined this week since 58.com announced the purchase of Chinese real estate site Anjuke.
- Previously covered: Neustar, AeroVironment, Alibaba, SanDisk, Autohome/Bitauto, ReneSola, Trina, Ambarella/GoPro, Bazaarvoice, Veeva
Feb. 12, 2015, 3:04 PM
- On a day the Nasdaq is up 1% (thanks in part to Cisco), notable tech gainers include wireless broadband/Wi-Fi hardware provider Ubiquiti (UBNT +5.5%), M2M hardware/service provider Sierra Wireless (SWIR +6.2%), fiber access equipment vendor Zhone (ZHNE +3.3%), CDN leader Akamai (AKAM +5.8%), 3D printing plays Voxeljet (VJET +12.5%) and Materialise (MTLS +4.4%), satellite services/hardware vendor ViaSat (VSAT +4.4%), capacitor maker Kemet (KEM +5.8%), Chinese online real estate play Leju (LEJU +5.7%), and microcap solar installer RGS Energy (RGSE +24.3%).
- With markets trading higher, the list of notable decliners is smaller. It includes fixed wireless broadband provider Towerstream (TWER -8.9%), local services marketplace Angie's List (ANGI -5%), Chinese social networking/IM platform YY (YY -4.5%), and chip packaging IP provider Tessera (TSRA -6.1%).
- Sierra, Ubiquiti, and Zhone have joined the list of telecom/networking equipment firms rallying on account of Cisco's numbers. Akamai and ViaSat are adding to the gains they saw yesterday thanks to market-pleasing earnings (I, II), and Tessera is reversing the Wednesday gains it saw on account of a Q4 beat. Voxeljet also rose sharply yesterday.
- Previously covered: Baidu, TripAdvisor, Nvidia, FireEye, Zillow/Trulia, enterprise tech stocks
Jan. 16, 2015, 11:31 AM
- Tessera (TSRA +7.3%) is near its post-financial crisis highs after announcing chip testing/assembly firm Amkor will pay it $155M over 16 quarters to end Tessera's infringement suit.
- The deal follows a $196M 2014 settlement with Taiwanese chip test/assembly firm PTI. Tessera trades for 7.5x its revised 2015 recurring revenue guidance of $235M.
Oct. 30, 2014, 6:41 PM
Jul. 31, 2014, 12:45 PM
Jul. 31, 2014, 12:10 PM
- Tessera (NASDAQ:TSRA) has struck a new multi-year patent licensing deal with memory giant Micron (NASDAQ:MU) that covers its chip packaging IP portfolio.
- The company (via its Invensas unit) has also agreed to license its mutli-die face-down (xFD) chip packaging tech to Micron, and to collaborate on "the manufacturing of Micron products that incorporate xFD technology." Multi-chip DRAM packages are a targeted application.
- Tessera and Micron will also "explore other possible joint development efforts."
- Tessera claims xFD can reduce chip package form factors by 25%-35%, and improve heat dissipation by 20%-30%. Both could be of value in mobile and notebook DRAM use cases where space is at a premium.
Jul. 30, 2014, 5:37 PM
Jul. 21, 2014, 10:49 AM
- ASML (ASML +1.8%) has been upgraded to Outperform by Pac Crest. The chip equipment giant sold off last week after providing light full-year guidance to go with a Q2 beat.
- Tessera (TSRA +2.9%) has been started at Buy by Craig-Hallum. Q2 results are due on Aug. 4.
- Materialise (MTLS +0.6%) and Imprivata (IMPR -3.3%) have each received 4 bullish ratings from IPO underwriters.
Feb. 27, 2014, 1:28 PM
- Tessera (TSRA +8%) has settled its patent dispute with leading Taiwanese chip test/assembly firm PTI. PTI is paying $196M via two payments in 2014, and quarterly recurring payments from 2015-2018.
- Thanks to the deal, Tessera is upping its Q1 revenue guidance range by $50M to $83M-$86M.
- CC at 5:30PM ET.
Jan. 28, 2014, 5:43 PM
Jan. 28, 2014, 5:32 PM
Apr. 23, 2013, 9:06 AM
Tessera (TSRA) +5.6% to a new 52-week high after announcing Samsung has signed a multi-year license for face-detection/tracking tech developed by Tessera's DigitalOptics unit; the Galaxy S IV will be among the devices supporting. The IP is integrated within Tessera's FaceTools suite, which also covers eye-tracking an smile/blink detection. Shares have been rallying amidst optimism about leadership changes and restructuring efforts. (PR)| Apr. 23, 2013, 9:06 AM
Dec. 13, 2012, 4:34 PM
Tessera (TSRA) -6.9% AH after warning it expects Q4 revenue of $50M-$53M, well below the $73.5M estimated by the one analyst who covers the company. Chip packaging IP revenue is expected to fall to $42M-$43M from Q3's $57.9M, and camera module sales to $8M-$10M from Q3's $14.8M. No explanation is given for the warning, which is harsh even in light of the ones recently issued by Altera and Lattice Semi.| Dec. 13, 2012, 4:34 PM