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Tessera Technologies Inc. Message Board

  • techinvestor05 techinvestor05 Mar 1, 2010 11:38 AM Flag

    tesserana

    Another company run by morons signing up to pay for expiring patents. How much of this will you take before you accept the clueless nature of your arguments? When I explain it out to you, you disappear without addressing a single point I make regarding patent portfolio and license structure, then you eventually return with the same tired nonsense. Must be tough being you. Where are you during the up days?

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    • Looking for a large corp stock buy back on earnings given cash is getting to ridiculous levels, especially given the recent $25 million settlement! The cash hoard here is too large (and growing) to not commence a share buy back at current valuations!

    • low volume is a clear sign that sellers are all cleaned up at current levels. Any incremental buyers will take it up. as it runs momo buyers will really get it cooking! $24 short term tgt!

    • The entire market has been rallying on about 2/3 normal volume. Volume preferred... but not necessary. TSRA shares had avg volume of 500K or so for years so it wouldn't surprise me to see it drop a bit now that news cycle has wound down. This doesn't mean its not topping out, but it is showing strength by holding above the 50DMA. Next stop should be the 100DMA in the 22's.

    • Low volume - does this have an effect of TSRA topping out?!

    • Tsra is technically building a head/shoulders bottom..top of the head is recent lows(16.75ish) with a neckline around $20, suggesting a move to $24! this price tgt coincides with the gap at $24. H & S formations are some of the most reliable technical patterns. Recent lack of participation in the rally is meaningless. stochastics are simply working off over-bought levels. Tsra is like a coiled spring building energy for the move to $24! Fundamentally speaking, tsra has 1/2 its mkt cap in cash($430 million & growing of a ($900 million mkt cap)! Tsra's biz model is a casflow/profit generating machine. Buyers will double back around for stocks that haven't participated(lesser visible/non mainstream plays) like TSRA! TSRA is aticking time bomb that should be aggressively bought Into current drifting action. U heard it here first, short term tgt $24!

    • Tech, it has been my experience that Ph.D's are some of the most difficult people to reason with. I think it is in the training they receive.

    • BUT.........I TOLD U SO!

      • 1 Reply to netttrunner
      • Runner,

        Was it a lucky guess or you study this company inside out with technical chart analysis to see TSRA cross over 20.

        The last 3 days one can see the baby steps at 17, 18, 19 and finally 20 with the increase 1M+ volume - still waiting for the story behind the numbers.

        There will be too many selling before it gaps up to 24+. For TSRA to go 40+ might be a longshot - even greater short covering!

        TSRA is a stock for most momentum day traders.

        GLTA

    • Tech, did you involve in the negotiation of the new lease? if not, why are you so sure that the new one is in the favor of TSRA? the new one may take into account the patent expiration. Do not imagine too much. Excessive litigation will not help TSRA. It just scares its customers away and strengthens "some idiots'" belief that TSRA is just a patent troll. Your perseverance reminds me of John McCain, "Surge works", "Surge works".

    • Hey, Tech - AS you probably remember, I've been out on TSRA for awhile and will probably stay on the sidelines more because of non belief in the economy itself than non-belief in TSRA. However, I wonder, do you have any actual experience in this strategy of bundling patents in order to extend their life? Is there anywhere one could read on wher e this strategy has been successfully implemented in the past? I'm not questioning that it has. I'd just love to know that it's a tried and true strategy that holds up. To the uninitiated, it seems as though if a company had a big axe to grind (like so many reluctant TSRA clients seem to have) about utilizing a patented technology near expiration, that without precedence, you would have a reasonable reason to fight bundling.... And there we go, back into the courts again... So, can you sight actual cases where this has been done before? No doubt it has, but I'd love to know when and by whom....

      • 2 Replies to foreverwhiteroses
      • forever - I've been in and out of TSRA many times in the last year, its become a decent trading stock again although a bit slower moving these days. Re the patent issue, I'm not a lawyer so I can't say with certainty what the rules are, and off the top of my head, no I cant site any specific cases. I recall a case back in the early 2000's (I think it was dolby labs) where a similar issue came up but don't have time to dig for it. But I recall this coming up on an earnings call, or maybe it was an analyst opinion, some years ago. My understanding is that TSRA doesn't necessarily need to collect royalties directly on the core patents beyond their expiration, but as those patents are integrated into their newer technologies, they become payable anyway. So for example, assume the patents for their uBGA/compliant chip technology are expiring. A licensee no longer pays on that patent. But that patent is also used in their stacked pkg or uPILR technology etc. So while a licensee technically doesn't pay on the core patent, the royalty is built into the license for the the upstream technology, thus TSRA receives their royalty without directly applying it to the specific patent. I may be off base on the mechanics of how this works, but licensees are still signing up and paying back royalties. Would be a great question for next ER.

      • I can hear it now, as Tsra crosses $40, "I was right, just early"! The last 2 deals would define "early" as 6-7 yrs early given those deals expire in 2016 & 2017. furthermore, there is only a 2.6 million share short interest here...not what I'd call huge committment! U can bank on late to the game shorts that sold into 2 downward revision. they are trapped given recent q1 guidance of 63-$68 million revised guidance! worse yet, court case settled favorably with longer term implications for future litigation! It's going to get ugly as shorty attempts to squirm out of this trap! Just wait until a large share repurchase is announced, a given thanks to tsra's ever growing cash hoard. For those not paying attention it's approx $420 million & counting with a mkt cap of $900M. The Icing on the cake is Tsra's high margin license fee & ongoing royalty revenue stream! The only sellers down here are late to the party momentum sellers that Got Got today(trapped with increased guidance after 2 downward revisions). The natural buyers will make covering very painful & nearly impossible at current levels! we break the mov avg tommorrow & its off to the races to the gap at $24!

 
TSRA
23.22+0.38(+1.66%)Jul 30 4:00 PMEDT

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