Emerald Advisers Inc. PA acquired a new stake in Integrated Device Technology Inc (NASDAQ:IDTI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 501,721 shares of the semiconductor company’s stock, valued at approximately $23,586,000. Emerald Advisers Inc. PA owned about 0.39% of Integrated Device Technology as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in IDTI. Atria Investments LLC bought a new position in shares of Integrated Device Technology during the second quarter valued at approximately $200,000. Oakbrook Investments LLC bought a new position in shares of Integrated Device Technology during the third quarter valued at approximately $235,000. Trexquant Investment LP bought a new position in shares of Integrated Device Technology during the second quarter valued at approximately $295,000. Krane Funds Advisors LLC grew its holdings in shares of Integrated Device Technology by 26.9% during the second quarter. Krane Funds Advisors LLC now owns 9,471 shares of the semiconductor company’s stock valued at $302,000 after purchasing an additional 2,009 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Integrated Device Technology during the first quarter valued at approximately $330,000. 96.57% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on IDTI. Craig Hallum upped their target price on Integrated Device Technology from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. BidaskClub lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Needham & Company LLC increased their price objective on Integrated Device Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research raised Integrated Device Technology from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, July 6th. Finally, Susquehanna Bancshares reissued a “neutral” rating and issued a $49.00 price objective (up from $42.00) on shares of Integrated Device Technology in a report on Tuesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $42.91.
Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, October 29th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Integrated Device Technology had a return on equity of 29.69% and a net margin of 2.06%. The business had revenue of $235.48 million during the quarter, compared to analyst estimates of $234.07 million. Equities research analysts forecast that Integrated Device Technology Inc will post 1.46 EPS for the current fiscal year.
In other Integrated Device Technology news, CEO Gregory L. Waters sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $42.63, for a total value of $852,600.00. Following the completion of the sale, the chief executive officer now directly owns 790,370 shares in the company, valued at $33,693,473.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sailesh Chittipeddi sold 33,300 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $47.01, for a total value of $1,565,433.00. Following the completion of the sale, the senior vice president now owns 193,095 shares of the company’s stock, valued at $9,077,395.95. The disclosure for this sale can be found here. Insiders sold a total of 62,300 shares of company stock valued at $2,760,903 over the last three months. Corporate insiders own 1.23% of the company’s stock.
Integrated Device Technology Company Profile
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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