Tessera Techhas suffered a 22% thrashing
since its Oct. 29 earnings report. While third-quarter
numbers came in ahead of expectations, the company predicted
weak Q4 sales. Funny, Tessera’s management seemed much
more positive during its recent analyst day, which was why
both analysts and investors were wondering what the heck
So was Cramer. He first recommended the stock back on May 26 and included it in the mobile Internet index he created on Aug. 11. But this past week of declines, a result of that disappointing guidance, has all but erased the Tessera’s gains of the past five or so month. Cramer hoped the quarter was more hiccup than hazard, but he needed to know for sure.
That’s why CEO and President Hank Nothhaft had some tough questions to answer when he appeared on Wednesday’s Mad Money. Was this a one-time glitch? Or did Cramer need to rethink his position on this stock? Watch the video to find out.
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