Tessera Technologies Inc. was a big mover last session, as the company saw its shares rise above 5%. The upside came after Tessera Technologies announced its decision to acquire leading audio solutions provider DTS Inc. for $850 million. The news led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $32.54 to $35.28 in the past one-month time frame.
The company has not seen any estimate revision in the past month and its Zacks Consensus Estimate also remained unchanged. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Tessera Technologies currently carries a Zacks Rank #4 (Sell), while its Earnings ESP is 0.00%.
A better-ranked stock in the electronic machinery manufacturing industry is Entegris, Inc. ENTG, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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