Tessera Technologies, Inc. (NASDAQ:TSRA) was in 14 hedge funds’ portfolio at the end of December. TSRA has seen a decrease in activity from the world’s largest hedge funds in recent months. There were 14 hedge funds in our database with TSRA positions at the end of the previous quarter.
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With these “truths” under our belt, let’s take a glance at the recent action regarding Tessera Technologies, Inc. (NASDAQ:TSRA).
What have hedge funds been doing with Tessera Technologies, Inc. (NASDAQ:TSRA)?
In preparation for this year, a total of 14 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were upping their holdings significantly.
Of the funds we track, Jeffrey Smith’s Starboard Value LP had the biggest position in Tessera Technologies, Inc. (NASDAQ:TSRA), worth close to $53 million, accounting for 6% of its total 13F portfolio. Coming in second is SAC Capital Advisors, managed by Steven Cohen, which held a $28 million position; 6% of its 13F portfolio is allocated to the company. Some other hedgies with similar optimism include Jim Simons’s Renaissance Technologies, Ryan Frick and Oliver Evans’s Dorsal Capital Management and D. E. Shaw’s D E Shaw.
Seeing as Tessera Technologies, Inc. (NASDAQ:TSRA) has experienced falling interest from the smart money, we can see that there is a sect of fund managers that slashed their entire stakes at the end of the year. It’s worth mentioning that Spencer M. Waxman’s Shannon River Fund Management sold off the largest position of the 450+ funds we watch, totaling about $4 million in stock.. Zeke Ashton’s fund, Centaur Capital Partners, also said goodbye to its call options., about $1 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How are insiders trading Tessera Technologies, Inc. (NASDAQ:TSRA)?
Insider trading activity, especially when it’s bullish, is most useful when the primary stock in question has seen transactions within the past 180 days. Over the last six-month time frame, Tessera Technologies, Inc. (NASDAQ:TSRA) has seen zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Tessera Technologies, Inc. (NASDAQ:TSRA). These stocks are Brooks Automation, Inc. (USA) (NASDAQ:BRKS), Entegris Inc (NASDAQ:ENTG), ATMI Inc (NASDAQ:ATMI), Kulicke and Soffa Industries Inc. (NASDAQ:KLIC), and Ultratech, Inc. (NASDAQ:UTEK). All of these stocks are in the semiconductor equipment & materials industry and their market caps are similar to TSRA’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Brooks Automation, Inc. (USA) (NASDAQ:BRKS)||10||0||2|
|Entegris Inc (NASDAQ:ENTG)||12||1||13|
|ATMI Inc (NASDAQ:ATMI)||7||0||12|
|Kulicke and Soffa Industries Inc. (NASDAQ:KLIC)||20||0||11|
|Ultratech, Inc. (NASDAQ:UTEK)||17||0||6|
With the results demonstrated by our time-tested strategies, everyday investors must always monitor hedge fund and insider trading activity, and Tessera Technologies, Inc. (NASDAQ:TSRA) is no exception.
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