Massachusetts Financial Services Co. MA Has $7.66 Million Position in Integrated Device Technology (IDTI)

Massachusetts Financial Services Co. MA lessened its position in shares of Integrated Device Technology (NASDAQ:IDTI) by 13.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,696 shares of the semiconductor company’s stock after selling 39,849 shares during the period. Massachusetts Financial Services Co. MA owned 0.19% of Integrated Device Technology worth $7,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised 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 grew its holdings in Integrated Device Technology by 47.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 2,441 shares during the period. Zeke Capital Advisors LLC acquired a new stake in Integrated Device Technology in the first quarter worth $241,000. Systematic Financial Management LP acquired a new stake in Integrated Device Technology in the fourth quarter worth $296,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Integrated Device Technology in the first quarter worth $345,000. 96.85% of the stock is owned by institutional investors and hedge funds.

IDTI has been the subject of a number of research reports. Zacks Investment Research cut shares of Integrated Device Technology from a “hold” rating to a “strong sell” rating in a report on Friday, February 2nd. KeyCorp raised their price target on shares of Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. BidaskClub upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Finally, Craig Hallum restated a “buy” rating and issued a $40.00 price target (up from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.50.

In other news, CEO Gregory L. Waters sold 15,000 shares of Integrated Device Technology stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $30.18, for a total transaction of $452,700.00. Following the completion of the transaction, the chief executive officer now directly owns 737,552 shares in the company, valued at $22,259,319.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sailesh Chittipeddi sold 25,000 shares of Integrated Device Technology stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $32.37, for a total transaction of $809,250.00. Following the transaction, the senior vice president now owns 178,078 shares of the company’s stock, valued at $5,764,384.86. The disclosure for this sale can be found here. Insiders have sold 184,845 shares of company stock valued at $5,724,912 over the last quarter. Corporate insiders own 1.24% of the company’s stock.

Shares of NASDAQ IDTI opened at $32.08 on Tuesday. The stock has a market cap of $4.14 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.02 and a beta of 1.86. Integrated Device Technology has a 1 year low of $23.07 and a 1 year high of $34.13. The company has a quick ratio of 4.23, a current ratio of 4.83 and a debt-to-equity ratio of 0.76.

Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, April 30th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $222.20 million. Integrated Device Technology had a negative net margin of 1.44% and a positive return on equity of 23.10%. The business’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. research analysts anticipate that Integrated Device Technology will post 1.43 EPS for the current fiscal year.

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 Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.

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

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