Dimensional Fund Advisors LP cut its holdings in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 2.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,418,840 shares of the semiconductor company’s stock after selling 67,325 shares during the period. Dimensional Fund Advisors LP owned 1.86% of Integrated Device Technology worth $77,113,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments LLC bought a new position in shares of Integrated Device Technology during the second quarter valued at approximately $200,000. Natixis bought a new position in shares of Integrated Device Technology during the first quarter valued at approximately $244,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Integrated Device Technology during the first quarter valued at approximately $266,000. Trexquant Investment LP bought a new position in shares of Integrated Device Technology during the second quarter valued at approximately $295,000. Finally, Teza Capital Management LLC bought a new position in shares of Integrated Device Technology during the first quarter valued at approximately $288,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.
A number of research firms have recently issued reports on IDTI. Piper Jaffray Companies reiterated a “buy” rating and set a $37.50 price objective on shares of Integrated Device Technology in a research note on Tuesday, July 31st. Zacks Investment Research upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 6th. Craig Hallum raised their target price on shares of Integrated Device Technology from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Cowen raised their target price on shares of Integrated Device Technology from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, July 19th. Finally, BidaskClub downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.54.
In other Integrated Device Technology news, VP David Shepard sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $42.65, for a total value of $127,950.00. Following the completion of the transaction, the vice president now owns 75,569 shares of the company’s stock, valued at $3,223,017.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory L. Waters sold 15,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $31.65, for a total transaction of $474,750.00. Following the completion of the transaction, the chief executive officer now directly owns 780,370 shares of the company’s stock, valued at approximately $24,698,710.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,587 shares of company stock valued at $3,345,315. Corporate insiders own 1.23% of the company’s stock.
Shares of IDTI opened at $47.08 on Friday. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 3.19 and a beta of 1.90. Integrated Device Technology Inc has a twelve month low of $25.11 and a twelve month high of $47.45. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.66 and a quick ratio of 4.98.
Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, July 30th. The semiconductor company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $228.52 million during the quarter, compared to the consensus estimate of $226.91 million. Integrated Device Technology had a net margin of 0.21% and a return on equity of 26.05%. Integrated Device Technology’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. equities analysts predict that Integrated Device Technology Inc will post 1.46 earnings per share for the current fiscal year.
About Integrated Device Technology
Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.
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