Chip technology developer Tessera Technologies Inc raised its third-quarter revenue forecast, driven by improved performance across its segments.
The company now expects total revenue for the third quarter to range between $65 million and $66 million, up from its prior forecast of $60 million to $62 million.
Analysts on average expect the company to post revenue of $62.1 million for the period, according to Reuters Estimates.
Tessera also said it would file a petition for review of the initial determination issued in late August in the International Trade Commission (ITC) investigation brought by it against certain manufacturers and sellers.
The administrative law judge had found Tessera's asserted patents valid, but determined that there was insufficient evidence to prove infringement.
Shares of the San Jose, California-based company were up about 2 percent at $28.59 in morning trade on Nasdaq. (Reporting by Sudipto Ganguly in Bangalore; Editing by Aradhana Aravindan)