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Tessera Technologies Inc. Message Board

sts_66 29 posts  |  Last Activity: Jan 19, 2015 6:54 PM Member since: Jun 5, 2006
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  • Reply to

    Amkor settles

    by jacosa Jan 16, 2015 12:59 PM
    sts_66 sts_66 Jan 19, 2015 6:54 PM Flag

    Bite me. I said "or raised div" - what else are they going to do with an extra $40M/yr? They have zero debt and $400M cash - either they buy back shares or raise the div, maybe both.

  • Reply to

    Amkor settles

    by jacosa Jan 16, 2015 12:59 PM
    sts_66 sts_66 Jan 16, 2015 1:37 PM Flag

    Special div or raised div coming? Last time I posted about Amkor settlement folks said it would by years before they got the cash - hah!

  • Has ANYONE gotten cash in their accounts for the fractional shares leftover after the conversion? If yes, which broker and how much? Still nothing from TDA!

  • Reply to

    QRVO down 3%, but RMF'D only down 2%

    by dbr_x6 Jan 6, 2015 10:10 AM
    sts_66 sts_66 Jan 6, 2015 1:46 PM Flag

    Pretty bad start for QRVO - opened at $69, closed at $70.40 first day, now down -9.9% from that. Ouch. Huge over-reaction to a good report put out by Gartner, makes no sense:

    http://www.gartner.com/newsroom/id/2955617

  • Reply to

    Info for TDA clients

    by sts_66 Jan 5, 2015 11:39 AM
    sts_66 sts_66 Jan 5, 2015 11:41 AM Flag

    Oh, one more thing - he also said Gainskeeper is messed up because of the missing cash, but will automatically update when it arrives.

  • Just got off the phone with a rep from the corporate changes/dividend dept., guy knew exactly what he was talking about - cash in lieu of partial shares will be put in our accounts when the Depository Trust Company (DTC), the electronic record keeper for stock certs (nobody uses paper certs anymore) collects all fractional shares, sells them, and transfers the cash to TDA - and the amount will be based on QRVO pps, not RFMD, a small bonus, since RFMD closed at a split equivalent of $66.36. He also said some brokers do this themselves, putting cash in client accounts before the DTC distributes it, but that causes problems because they might use the wrong pps to calculate the amount. Cash should hit our accounts sometime this week.

  • Reply to

    Does this make sense?

    by rowleyca1989 Jan 2, 2015 4:43 PM
    sts_66 sts_66 Jan 3, 2015 2:52 PM Flag

    I have a similar problem, but just with Gainskeeper - shows me with way too few shares of QRVO and cost basis is way off as a result - and the page won't let me adjust things manually either - huh? Didn't get cash for my fractional shares (yet) either, but don't know what they're worth anyway - 4x RFMD's last close ($16.59 x 4 = $66.36 x 0.5 = $33.18) or QRVO's opening price $69 x 0.5?

  • Reply to

    1st they lose SANOFI now JNJ

    by chucklab2 Dec 29, 2014 9:27 AM
    sts_66 sts_66 Dec 29, 2014 11:36 AM Flag

    Canceled deal was for "development and commercialization of MT 400 in Brazil, Colombia, Ecuador and Peru", which I interpret to mean gaining approval to sell in those countries, which hasn't happened yet, ergo they terminated it. I can't find any info that says they ever gained approval to sell, but there is a royalty payment of $257.3K in the PR, so maybe they did, but just weren't selling much or promoting it? Another idea - removes another partner a potential BO company would have to negotiate with?

  • Reply to

    Here's the deal . . . .

    by loudfartlover Dec 17, 2014 5:54 PM
    sts_66 sts_66 Dec 19, 2014 7:12 PM Flag

    Not true - OREX PDUFA was delayed because of label problems.

  • Reply to

    Here's the deal . . . .

    by loudfartlover Dec 17, 2014 5:54 PM
    sts_66 sts_66 Dec 18, 2014 2:23 PM Flag

    A CRL is material news, POZN must release a PR within 24-48 hrs of receipt or they would violate SEC rules - they did not sit on it, and I doubt your story of a company that waited 1 month - execs would be in jail.

  • Reply to

    Here's the deal . . . .

    by loudfartlover Dec 17, 2014 5:54 PM
    sts_66 sts_66 Dec 17, 2014 7:23 PM Flag

    I wouldn't argue that maybe Sanofi heard back room chatter about the CRL, but for the FDA to send out an identical CRL w/o reinspecting the plant is BS - also that part about "priorities", meaning "we didn't have time to work on your CRL response so we're giving you another one".

  • sts_66 sts_66 Dec 17, 2014 12:28 PM Flag

    This CRL is beyond reprehensibile - FDA had all the time in the world to review the revised package and comment, said nothing, apparently letting facility and POZN to stumble again - or it's totally BS if consultant was any good.

  • http://www.sec.gov/Archives/edgar/data/1261694/000118143114038657/xslF345X03/rrd420175.xml

    Exercised 20k+ options at $25.78 and sold'em for $36.20 - guess he needed money to pay for Xmas presents ;-)

  • My post last week only included one of the Starboard entities selling out - the umbrella group still owns 2,269,362 Shares (4.3%) if you go to StreetInsider and look for the 13D/A SEC filing you'll find the info, and as I suggested the near 1M share sale was to capture profits for nice EOY results.

  • Reply to

    Starboard sells last 1M shrs, now almost out of TSRA

    by sts_66 Dec 5, 2014 12:11 PM
    sts_66 sts_66 Dec 6, 2014 3:43 PM Flag

    Had a thought - could be Q4 window dressing for Starboard? Sell a huge winner to maybe balance some losers?

    To "tommy", if you don't know how to find insider trade data.......hopeless....

  • Reply to

    Starboard sells last 1M shrs, now almost out of TSRA

    by sts_66 Dec 5, 2014 12:11 PM
    sts_66 sts_66 Dec 5, 2014 12:16 PM Flag

    P.S. Looks like Starboard doesn't think that $128M Amkor was ordered to pay Tessera is coming any time soon, else they would have stayed in IMO. Someone pointed that out when I posted the lawsuit decision, that it might take years to collect.

  • Recall Starboard was the activist investor who demanded changes to BOD last year, had 6.7% ownership. Avg price paid was $18.7, avg sale price $34.6, a tidy 85% profit. If they've bailed, maybe time for us to bail too?

    Tessera Technologies (NASDAQ:TSRA) Director Peter A. Feld unloaded 1,000,000 shares of Tessera Technologies stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $34.81, for a total transaction of $34,810,000.00. Following the completion of the sale, the director now directly owns 22,013 shares in the company, valued at approximately $766,273.

    Craig Mitchell, CTO on Invensas, exercised 1,199 options and Sold $34.37 same day (10b5-1 planned sale).
    Richard Hill, Director sold 5,458 shrs at $34.45 same day (direct sale)

  • sts_66 sts_66 Dec 4, 2014 5:57 PM Flag

    Please don't lump POZN in with MNKD, and hope we don't follow in their footsteps - Afreeza approved 6/27/14, deal with Sanofi signed deal on 8/11/14, became effective 9/23/14, and no launch expected until Q1/15 at the earliest - this is what I meant by Sanofi backing out of PA deal leading to long delays before sales start. In the meantime, MNKD pps has been cut in half from approval price, won't be surprised to see that happen here too unless a deal is signed very quickly, unlikely because new partner must do sufficient DD to sign on the dotted line.

    Per MNKD's % of revs, they also have to pay for costs too - not good, since Afreeza is unlikely to be profitable in the first year of sales - from MNKD's 10-Q (emphasis mine):

    "Sanofi and MannKind will share ****profits and losses**** on a global basis, with Sanofi retaining 65% and MannKind receiving 35%."

  • sts_66 sts_66 Dec 3, 2014 4:34 PM Flag

    PA is a $200M market in US in how many years? Won't happen overnight, and POZN gets some smallish % of that - Sanofi deal didn't disclose % of revenue going to POZN. ROW won't happen for a couple years either - need to apply to most countries individually, except for EU, even if approved EU members can cover or not - EU members use cost/benefit analysis to add or deny drug coverage, US FDA doesn't include cost, just safety/efficacy.

    Don't get me wrong, I think POZN is a good hold (my 2nd biggest holding), most revs will be distributed to shareholders, but things take time to develop - this Sanofi cancellation means delays in getting sales reps educated, handouts prepared, all sorts of inane things logistically speaking that will slow the launch after approval.

    Finally, I find it hard to believe a BP with a MC of $126B and $5B in cash dropped out over a measly $20M milestone payment. PA + Plavix appears to be a good match, dunno why they backed out, or who initiated it.

  • sts_66 sts_66 Dec 2, 2014 12:48 PM Flag

    The Street said no such thing - and $31/shr is a 200%+ BO premium, too high - given EPS of 33 cents, cash ~ $1.20/shr, P/E of 25, you get a BO price of ~ $20 if 100% premium. Could go higher if someone thinks PA franchise will sell like hotcakes - I haven't seen sales projections - perhaps Sanofi did some asking around and didn't like what they heard, wanted to save that $20M milestone for PA approval? I hope it was POZN that initiated the talks, thinkng they could get a better deal now. Recall the Sanofi deal was made in 9/2013, Pernix Treximet deal 5/2014, so finances have changed since the PA deal was signed, for the better, expecially with Horizon selling the #$%$ out of Vimovo.

TSRA
37.26-0.27(-0.72%)Jan 23 4:00 PMEST

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