Integrated Device Technology Inc (NASDAQ:IDTI) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,573,457 shares, a growth of 2.2% from the April 28th total of 5,455,525 shares. Based on an average trading volume of 1,718,056 shares, the days-to-cover ratio is presently 3.2 days.

In other news, Director Gordon W. Parnell sold 6,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $23.99, for a total transaction of $143,940.00. Following the completion of the transaction, the director now directly owns 77,309 shares in the company, valued at approximately $1,854,642.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mario Montana sold 4,305 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $24.04, for a total transaction of $103,492.20. The disclosure for this sale can be found here. Insiders have sold a total of 140,868 shares of company stock worth $3,421,783 in the last three months. Insiders own 1.38% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted its position in Integrated Device Technology by 75.8% in the fourth quarter. Comerica Bank now owns 250,980 shares of the semiconductor company’s stock valued at $6,314,000 after buying an additional 108,248 shares during the last quarter. Century Capital Management LLC boosted its position in Integrated Device Technology by 2.5% in the fourth quarter. Century Capital Management LLC now owns 262,604 shares of the semiconductor company’s stock valued at $6,187,000 after buying an additional 6,327 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Integrated Device Technology by 112.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,506,071 shares of the semiconductor company’s stock valued at $106,163,000 after buying an additional 2,380,645 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Integrated Device Technology during the fourth quarter valued at $555,000. Finally, Scout Investments Inc. boosted its position in Integrated Device Technology by 68.0% in the third quarter. Scout Investments Inc. now owns 764,613 shares of the semiconductor company’s stock valued at $17,663,000 after buying an additional 309,397 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

IDTI has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Integrated Device Technology in a research report on Tuesday, April 18th. Zacks Investment Research upgraded shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, April 5th. Loop Capital restated a “buy” rating and set a $27.00 price target on shares of Integrated Device Technology in a research report on Tuesday, January 31st. Summit Redstone lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Finally, Bank of America Corp lowered shares of Integrated Device Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.14.

Shares of Integrated Device Technology (NASDAQ:IDTI) remained flat at $25.86 on Friday. The company’s stock had a trading volume of 1,700,399 shares. The firm has a 50-day moving average price of $23.83 and a 200-day moving average price of $24.22. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 32.37 and a beta of 2.11. Integrated Device Technology has a 52 week low of $18.49 and a 52 week high of $26.66.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, May 1st. The semiconductor company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $175.70 million during the quarter, compared to analysts’ expectations of $175.05 million. Integrated Device Technology had a net margin of 21.82% and a return on equity of 23.43%. Integrated Device Technology’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. Equities analysts forecast that Integrated Device Technology will post $1.50 EPS for the current fiscal year.

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Integrated Device Technology Company 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.

12 Month Chart for NASDAQ:IDTI

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