1492 Capital Management LLC decreased its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,000 shares of the semiconductor company’s stock after selling 19,874 shares during the quarter. Integrated Device Technology accounts for approximately 2.2% of 1492 Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. 1492 Capital Management LLC owned 0.07% of Integrated Device Technology worth $2,765,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in IDTI. Public Employees Retirement System of Ohio lifted its holdings in shares of Integrated Device Technology by 15.7% during the second quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 670 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in shares of 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 purchasing an additional 5,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Integrated Device Technology by 47.1% during 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. Harbour Capital Advisors LLC acquired a new stake in shares of Integrated Device Technology during the third quarter worth about $239,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Integrated Device Technology during the third quarter worth about $263,000. 97.16% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. Piper Jaffray Companies assumed coverage on Integrated Device Technology in a report on Monday, February 26th. They set an “overweight” rating and a $33.00 target price for the company. BidaskClub raised Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. ValuEngine raised Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Finally, Craig Hallum reiterated a “buy” rating and set a $40.00 price target (up from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.36.
Integrated Device Technology Inc (NASDAQ:IDTI) opened at $32.84 on Tuesday. The company has a current ratio of 5.62, a quick ratio of 5.01 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $4,350.00, a P/E ratio of 44.99, a P/E/G ratio of 3.19 and a beta of 1.87. Integrated Device Technology Inc has a 12-month low of $22.70 and a 12-month high of $34.13.
Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company 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%. Integrated Device Technology’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share. equities analysts predict that Integrated Device Technology Inc will post 1.15 EPS for the current year.
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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