Dunnno where you found that target...most of the price predicting web sites I follow have a $27 12 month price for TSRA, which I would take in a split second and close my position...we're a LONG way from there and getting further away darn near every day....just like my other tech stock, the POS TLVT.
Best thing you can do is cut you're losses. We go to 14 from here, than 12, etc. We broke resistence on the whole S&P today, and its not going to help TSRA. We're looking at 12.50 by September max, and 9150 for Dow. Buy gold or oil.
Where do you get that target price? Not that it's unrealistic, but it seems to anticipate some good news.
Tessera is in the middle of at least 3 legal disputes with potential costs of at least 10% of last years's earnings and with potential recoveries proportionate to that. Tessera had a perfect record of legal victories until recently.
Tessera's patents on existing connection-density packaging are expiring soon and while their technologies for higher densities look good, there are other contenders in that space.
Tessera is trying to reposition itself in the integrated optics field as a supplier of parts rather than of technology.
That is more than enough uncertainty to scare away cautious investors.
Then there's the Cramer factor: he pumped the stock a bit under a year ago and was taken completely by surprise when quantity discounts to certain customers dropped quarterly earnings (never mind that all company predictions noted that it was going to happen, and that it had happened before). A certain number of Cramer's followers are uninterested in TSRA as a result.