LaSalle Street Capital Management LLC lowered its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 12.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 39,782 shares of the semiconductor company’s stock after selling 5,479 shares during the quarter. Integrated Device Technology comprises about 1.3% of LaSalle Street Capital Management LLC’s portfolio, making the stock its 29th largest position. LaSalle Street Capital Management LLC’s holdings in Integrated Device Technology were worth $1,268,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of IDTI. Atria Investments LLC acquired a new position in Integrated Device Technology in the 2nd quarter worth about $200,000. First Dallas Securities Inc. acquired a new position in Integrated Device Technology in the 1st quarter worth about $238,000. Zeke Capital Advisors LLC acquired a new position in Integrated Device Technology in the 1st quarter worth about $241,000. Natixis acquired a new position in Integrated Device Technology in the 1st quarter worth about $244,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Integrated Device Technology in the 1st quarter worth about $266,000. 99.37% of the stock is owned by institutional investors.
In other Integrated Device Technology news, CEO Gregory L. Waters sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 780,370 shares in the company, valued at approximately $24,698,710.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory L. Waters sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $34.46, for a total value of $689,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,546 shares of company stock valued at $3,695,975. 1.23% of the stock is owned by company insiders.
NASDAQ:IDTI opened at $35.95 on Monday. Integrated Device Technology Inc has a 12 month low of $23.07 and a 12 month 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 company has a market cap 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 posted its quarterly earnings data on Monday, July 30th. The semiconductor company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Integrated Device Technology had a return on equity of 26.05% and a net margin of 0.21%. The company had revenue of $228.52 million during the quarter, compared to analyst estimates of $226.91 million. During the same period in the previous year, the business earned $0.33 EPS. Integrated Device Technology’s quarterly revenue was up 16.2% on a year-over-year basis. equities research analysts forecast that Integrated Device Technology Inc will post 1.46 earnings per share for the current year.
IDTI has been the subject of a number of analyst reports. Zacks Investment Research raised Integrated Device Technology from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Friday, May 4th. JPMorgan Chase & Co. reduced their price target on Integrated Device Technology from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, May 1st. Bank of America raised Integrated Device Technology from an “underperform” rating to a “neutral” rating and set a $30.00 price target for the company in a report on Tuesday, May 1st. BidaskClub cut Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 24th. Finally, Cowen initiated coverage on Integrated Device Technology in a report on Tuesday, May 22nd. They issued an “outperform” rating and a $37.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus price target of $38.13.
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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