Victory Capital Management Inc. Invests $1.48 Million in Integrated Device Technology, Inc. (NASDAQ:IDTI)

Victory Capital Management Inc. acquired a new position in Integrated Device Technology, Inc. (NASDAQ:IDTI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,490 shares of the semiconductor company’s stock, valued at approximately $1,475,000.

Several other institutional investors also recently bought and sold shares of the stock. Greenwood Capital Associates LLC lifted its stake in Integrated Device Technology by 1.3% in the second quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 234 shares during the period. Alliancebernstein L.P. lifted its stake in Integrated Device Technology by 5.1% in the second quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after buying an additional 158,917 shares during the period. Northern Trust Corp lifted its stake in Integrated Device Technology by 1.7% in the second quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock valued at $58,272,000 after buying an additional 37,579 shares during the period. State Street Corp lifted its stake in Integrated Device Technology by 2.8% in the second quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock valued at $125,094,000 after buying an additional 129,876 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Integrated Device Technology by 1.3% in the second quarter. Schroder Investment Management Group now owns 2,449,040 shares of the semiconductor company’s stock valued at $63,577,000 after buying an additional 32,528 shares during the period. 96.23% of the stock is currently owned by institutional investors.

In other news, VP Chris Allexandre sold 1,028 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $32.23, for a total transaction of $33,132.44. Following the completion of the transaction, the vice president now owns 49,936 shares in the company, valued at approximately $1,609,437.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gordon W. Parnell sold 6,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $32.45, for a total value of $194,700.00. Following the transaction, the director now owns 82,602 shares of the company’s stock, valued at approximately $2,680,434.90. The disclosure for this sale can be found here. Insiders have sold a total of 74,069 shares of company stock valued at $2,354,373 in the last quarter. 1.24% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on IDTI shares. Craig Hallum boosted their price target on Integrated Device Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. KeyCorp reaffirmed a “buy” rating and set a $30.00 target price on shares of Integrated Device Technology in a research report on Friday, September 1st. Zacks Investment Research raised Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Loop Capital reaffirmed a “buy” rating and set a $29.00 target price on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. Finally, Bank of America upped their target price on Integrated Device Technology from $27.00 to $30.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Integrated Device Technology currently has a consensus rating of “Buy” and an average target price of $32.23.

Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) traded up $0.24 during trading hours on Thursday, reaching $29.80. The company’s stock had a trading volume of 988,516 shares, compared to its average volume of 1,579,901. The company has a market cap of $3,926.60, a P/E ratio of 26.87, a PEG ratio of 2.86 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.42 and a quick ratio of 4.80. Integrated Device Technology, Inc. has a 52-week low of $22.70 and a 52-week high of $33.92.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $204.40 million during the quarter, compared to the consensus estimate of $200.99 million. Integrated Device Technology had a return on equity of 19.65% and a net margin of 13.32%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. sell-side analysts forecast that Integrated Device Technology, Inc. will post 1.15 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Victory Capital Management Inc. Invests $1.48 Million in Integrated Device Technology, Inc. (NASDAQ:IDTI)” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2017/12/07/victory-capital-management-inc-acquires-shares-of-55490-integrated-device-technology-inc-idti.html.

Integrated Device Technology Profile

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.

Institutional Ownership by Quarter for Integrated Device Technology (NASDAQ:IDTI)

Receive News & Ratings for Integrated Device Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integrated Device Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply