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Tessera Technologies Inc. Message Board

  • sampletestportfolio sampletestportfolio Sep 29, 2011 12:07 PM Flag

    BUYOUT bait

    Option activity exploding today.

    $590 million in net working capital after subtracting ALL liabilities, vs. $615 market capitalization at $12 per share.

    If company DOES NOT offer massive stock buyback to support stock, IT WILL BE TAKEN OVER IN COMING WEEKS!

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    • Not that it couldn't happen, but this isn't a good season to get a bridge loan. Frankly, I'd prefer a special dividend to a buyback.

      What would surprise me less than most people is if Tessera combined a license renewal with purchase of a fab. If digital optics succeeds, they can use a lot of manufacturing capacity at around 1 micron feature size. Even without camera manufacturing, there may be a use for an old fab in commercializing high density packaging (the substrate for mounting a chip with specialized dielectrics is a pretty sophisticated item itself). Several of the big boys have to keep building fabs to keep up with technology, and the ones left behind get moved to low-margin products. Or Tessera might (less likely) be in the market for assembly facilities, since the preferred way to sell "silent air cooling" is on a base board.

38.44+0.31(+0.81%)Sep 30 4:00 PMEDT