Perella Weinberg Partners Capital Management LP Buys Shares of 145,371 Integrated Device Technology Inc (IDTI)

Perella Weinberg Partners Capital Management LP bought a new position in Integrated Device Technology Inc (NASDAQ:IDTI) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 145,371 shares of the semiconductor company’s stock, valued at approximately $6,834,000. Perella Weinberg Partners Capital Management LP owned 0.11% of Integrated Device Technology as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in IDTI. Parnassus Investments CA bought a new stake in Integrated Device Technology during the second quarter valued at about $36,021,000. Victory Capital Management Inc. raised its holdings in 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 valued at $35,640,000 after acquiring an additional 1,035,630 shares during the period. Hodges Capital Management Inc. raised its holdings in Integrated Device Technology by 4.2% during the second quarter. Hodges Capital Management Inc. now owns 1,109,054 shares of the semiconductor company’s stock valued at $35,357,000 after acquiring an additional 44,830 shares during the period. Glenmede Trust Co. NA raised its holdings in Integrated Device Technology by 4.0% during the second quarter. Glenmede Trust Co. NA now owns 1,081,750 shares of the semiconductor company’s stock valued at $34,486,000 after acquiring an additional 41,137 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Integrated Device Technology by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 906,584 shares of the semiconductor company’s stock valued at $28,902,000 after acquiring an additional 29,558 shares during the period. 96.57% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the company. Craig Hallum raised their price target on Integrated Device Technology from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. BidaskClub cut Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Friday. Needham & Company LLC lifted their target price on Integrated Device Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research raised Integrated Device Technology from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, July 6th. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $49.00 target price (up from $42.00) on shares of Integrated Device Technology in a report on Tuesday, September 11th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $42.91.

In related news, SVP Sailesh Chittipeddi sold 33,300 shares of Integrated Device Technology stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $47.01, for a total value of $1,565,433.00. Following the completion of the transaction, the senior vice president now owns 193,095 shares in the company, valued at $9,077,395.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David Shepard sold 6,000 shares of Integrated Device Technology stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $35.82, for a total value of $214,920.00. Following the completion of the transaction, the vice president now owns 73,569 shares of the company’s stock, valued at approximately $2,635,241.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,300 shares of company stock valued at $2,760,903. 1.23% of the stock is currently owned by company insiders.

Shares of IDTI stock opened at $46.87 on Friday. Integrated Device Technology Inc has a 12-month low of $26.96 and a 12-month high of $47.45. The company has a current ratio of 4.65, a quick ratio of 4.98 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $6.05 billion, a PE ratio of 36.91, a PEG ratio of 3.22 and a beta of 1.68.

Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, October 29th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Integrated Device Technology had a return on equity of 29.69% and a net margin of 2.06%. The firm had revenue of $235.48 million for the quarter, compared to analysts’ expectations of $234.07 million. As a group, analysts predict that Integrated Device Technology Inc will post 1.45 EPS for the current year.

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

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