Rothschild Asset Management Inc. raised its stake in Integrated Device Technology Inc (NASDAQ:IDTI) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,975 shares of the semiconductor company’s stock after purchasing an additional 3,512 shares during the period. Rothschild Asset Management Inc. owned 0.21% of Integrated Device Technology worth $8,639,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Schroder Investment Management Group increased its stake in Integrated Device Technology by 19.6% in the first quarter. Schroder Investment Management Group now owns 2,733,203 shares of the semiconductor company’s stock valued at $83,527,000 after purchasing an additional 447,536 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Integrated Device Technology by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,486,165 shares of the semiconductor company’s stock valued at $75,977,000 after purchasing an additional 21,864 shares in the last quarter. Trigran Investments Inc. increased its stake in Integrated Device Technology by 19.5% in the first quarter. Trigran Investments Inc. now owns 1,824,673 shares of the semiconductor company’s stock valued at $55,762,000 after purchasing an additional 297,888 shares in the last quarter. Parnassus Investments CA bought a new stake in shares of Integrated Device Technology during the second quarter worth about $36,021,000. Finally, Victory Capital Management Inc. increased its position in shares of Integrated Device Technology by 1,258.5% during the second quarter. Victory Capital Management Inc. now owns 1,117,920 shares of the semiconductor company’s stock worth $35,640,000 after acquiring an additional 1,035,630 shares in the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.
In other Integrated Device Technology news, CEO Gregory L. Waters sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $34.46, for a total value of $689,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Shepard sold 1,183 shares of the company’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $33.60, for a total transaction of $39,748.80. Following the completion of the sale, the vice president now directly owns 74,965 shares of the company’s stock, valued at $2,518,824. The disclosure for this sale can be found here. Insiders sold a total of 108,546 shares of company stock valued at $3,695,975 over the last ninety days. 1.23% of the stock is currently owned by insiders.
Shares of IDTI stock opened at $35.95 on Monday. Integrated Device Technology Inc has a 52-week low of $23.07 and a 52-week high of $36.78. The company has a quick ratio of 4.98, a current ratio of 5.66 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 2.00 and a beta of 1.82.
Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, July 30th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. Integrated Device Technology had a net margin of 0.21% and a return on equity of 26.05%. The business had revenue of $228.52 million during the quarter, compared to the consensus estimate of $226.91 million. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. equities analysts expect that Integrated Device Technology Inc will post 1.46 EPS for the current year.
IDTI has been the subject of several recent research reports. Zacks Investment Research raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Friday, May 4th. JPMorgan Chase & Co. decreased their target price on shares of Integrated Device Technology from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, May 1st. Bank of America raised shares of Integrated Device Technology from an “underperform” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Tuesday, May 1st. BidaskClub downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 24th. Finally, Cowen initiated coverage on shares of Integrated Device Technology in a research report on Tuesday, May 22nd. They set an “outperform” rating and a $37.00 target price for the company. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $38.13.
Integrated Device Technology 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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