1492 Capital Management LLC trimmed its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 17.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,000 shares of the semiconductor company’s stock after selling 19,874 shares during the quarter. Integrated Device Technology makes up approximately 2.2% of 1492 Capital Management LLC’s investment portfolio, making the stock its 13th largest position. 1492 Capital Management LLC’s holdings in Integrated Device Technology were worth $2,765,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of IDTI. Public Employees Retirement System of Ohio boosted its stake in Integrated Device Technology by 15.7% during the second quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after buying an additional 670 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in Integrated Device Technology by 285.7% during the fourth quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock worth $201,000 after buying an additional 5,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Integrated Device Technology by 47.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock worth $227,000 after buying an additional 2,441 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Integrated Device Technology during the third quarter worth $239,000. Finally, ClariVest Asset Management LLC acquired a new position in Integrated Device Technology during the third quarter worth $263,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.
In other news, VP David Shepard sold 22,778 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.95, for a total value of $682,201.10. Following the transaction, the vice president now owns 58,504 shares of the company’s stock, valued at approximately $1,752,194.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian C. White sold 8,417 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $32.50, for a total value of $273,552.50. Following the completion of the transaction, the senior vice president now directly owns 108,737 shares in the company, valued at approximately $3,533,952.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,823 shares of company stock worth $4,353,162. Corporate insiders own 1.24% of the company’s stock.
Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The business had revenue of $217.10 million for the quarter, compared to analyst estimates of $215.32 million. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was up 23.1% on a year-over-year basis. sell-side analysts expect that Integrated Device Technology Inc will post 1.15 earnings per share for the current year.
A number of equities analysts have weighed in on IDTI shares. Zacks Investment Research lowered Integrated Device Technology from a “hold” rating to a “strong sell” rating in a research note on Friday, February 2nd. Barclays raised Integrated Device Technology from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $28.00 to $33.00 in a research note on Wednesday, January 17th. KeyCorp boosted their price objective on Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. BidaskClub raised Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Finally, ValuEngine lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Integrated Device Technology has an average rating of “Buy” and an average target price of $33.36.
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About Integrated Device Technology
Integrated Device Technology, Inc develops system-level solutions that optimize its customers’ applications. The Company operates through two segments: the Communications, and the Computing, Consumer and Industrial. It offers products in radio frequency (RF), timing, wireless power transfer, serial switching, interfaces and sensing solutions.
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