Tessera Technologies, Inc. (TSRA): Are Hedge Funds Right About This Stock?

As one would reasonably expect, some big names were breaking ground themselves. Visium Asset Management, managed by Jacob Gottlieb, created the largest position in Tessera Technologies, Inc. (NASDAQ:TSRA). Visium Asset Management had $4.9 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also made a $1.3 million investment in the stock during the quarter. The other funds with brand new TSRA positions are Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, Ken Gray and Steve Walsh’s Bryn Mawr Capital, and David Dreman’s Dreman Value Management.

Let’s now take a look at hedge fund activity in other stocks similar to Tessera Technologies, Inc. (NASDAQ:TSRA). These stocks are Korn/Ferry International (NYSE:KFY), LogMeIn Inc (NASDAQ:LOGM), Gannett Co., Inc. (NYSE:GCI), and Mueller Industries, Inc. (NYSE:MLI). This group of stocks’ market values resemble TSRA’s market value.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $202 million, below the $378 million figure in TSRA’s case. Korn/Ferry International (NYSE:KFY) is the most popular stock in this table with 23 funds holding shares, while Mueller Industries, Inc. (NYSE:MLI) is the least popular one. Compared to these stocks, Tessera Technologies, Inc. (NASDAQ:TSRA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.