Tessera shares up after ITC overturns stay order
March 28 (Reuters) - Shares of Tessera Technologies Inc (TSRA.O: Quotazione) shot up about 42 percent on Friday, a day after the chip technology developer said the U.S. International Trade Commission overturned an administrative judge's decision to stay a patent infringement case.
Tessera, which derives about 80 percent of its revenue from licensing its chip packaging technology that compresses the size of semiconductors, is embroiled in a legal battle with Motorola Inc MOT.N, Qualcomm Inc (QCOM.O: Quotazione), Freescale Semiconductor Inc and others.
San Jose, California-based Tessera collects royalties from companies such as Intel Corp (INTC.O: Quotazione), Sony Corp (6758.T: Quotazione) and Siemens AG (SIEGn.DE: Quotazione) that use its technology, but others have refused to pay.
Shares of Tessera fell 34 percent on Feb. 26, the day it announced the stay by an ITC administrative law judge.
The company's stock rose $7.00 to $23.49 in morning trade on Nasdaq. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Jarshad Kakkrakandy)
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