Shares of Tessera Technologies Inc. (TSRA) hit a new 52-week high Thursday, printing the tape at $26.61. That’s a 51.19% rise, or $9.01 per share from the 52-week low of $17.60.
The stock closed at $23.22 at the end of Wednesday’s trading session, printing a solid one-year return of about 27% and year-to-date return of around 28.97%. TSRA is trading at unusually high volume Thursday with 2.12 million shares changing hands. It is currently at more than five times its average daily volume and trading up 9.5% at $25.43 as of 2:54 p.m. ET. The average volume of shares traded over the last three months was roughly 378K.
The chart below shows where TSRA has traded over the past year, with the 50-day and 200-day moving averages included.
Tessera Technologies has a market cap of $1.36 billion and long-term expected growth of 20% annually for the next five years.
Tessera Technologies, Inc., through its subsidiaries, develops, licenses, and delivers technologies and products for electronic devices. The company was founded in 1990 and is headquartered in San Jose, California.