Tessera Stock Gaps Up On Today's Open (TSRA)

NEW YORK ( TheStreet) -- Shares of Tessera Technologies (Nasdaq: TSRA) were gapping up Wednesday morning with an open price 15.8% higher than Tuesday's closing price. The stock closed at $14.47 Tuesday and opened today's trading at $16.76.

The average volume for Tessera has been 526,600 shares per day over the past 30 days. Tessera has a market cap of $760.1 million and is part of the technology sector and electronics industry. Shares are down 33.7% year to date as of the close of trading on Tuesday.

Tessera Technologies, Inc. develops, licenses, and delivers miniaturization technologies and products for electronic devices worldwide. It operates in two segments, Micro-electronics, and Imaging and Optics.

TheStreet Ratings rates Tessera as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Tessera Ratings Report.

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