Castleark Management LLC boosted its holdings in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 38.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,375 shares of the semiconductor company’s stock after buying an additional 149,835 shares during the period. Castleark Management LLC owned about 0.41% of Integrated Device Technology worth $16,065,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Integrated Device Technology by 15.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 670 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Integrated Device Technology by 285.7% in the 4th quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 5,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Integrated Device Technology by 47.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 2,441 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Integrated Device Technology in the 3rd quarter valued at $239,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Integrated Device Technology in the 3rd quarter valued at $263,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.
NASDAQ:IDTI traded down $0.86 on Friday, hitting $29.60. 800,180 shares of the stock were exchanged, compared to its average volume of 1,003,984. The stock has a market capitalization of $3,917.20, a P/E ratio of 25.96, a P/E/G ratio of 2.22 and a beta of 1.83. Integrated Device Technology Inc has a 52 week low of $22.70 and a 52 week high of $34.13. The company has a current ratio of 5.62, a quick ratio of 5.01 and a debt-to-equity ratio of 0.69.
Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, January 29th. The semiconductor company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $217.10 million during the quarter, compared to analysts’ expectations of $215.32 million. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. equities analysts predict that Integrated Device Technology Inc will post 1.15 EPS for the current year.
Several brokerages have recently commented on IDTI. BidaskClub upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. KeyCorp boosted their target price on shares of Integrated Device Technology from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target (up previously from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. Craig Hallum reiterated a “buy” rating and set a $40.00 price target (up previously from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. Finally, Barclays upgraded shares of Integrated Device Technology from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $28.00 to $33.00 in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $33.36.
In other Integrated Device Technology news, VP Chris Allexandre sold 2,721 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $32.08, for a total transaction of $87,289.68. Following the completion of the sale, the vice president now directly owns 47,215 shares of the company’s stock, valued at approximately $1,514,657.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Waters sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $28.33, for a total value of $283,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 150,349 shares of company stock valued at $4,747,248 over the last three months. Company insiders own 1.24% of the company’s stock.
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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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