Integrated Device Technology Inc (IDTI) Stake Decreased by Pendal Group Ltd

Pendal Group Ltd cut its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 38.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,118 shares of the semiconductor company’s stock after selling 21,124 shares during the quarter. Pendal Group Ltd’s holdings in Integrated Device Technology were worth $1,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in shares of Integrated Device Technology by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 51,370 shares of the semiconductor company’s stock worth $1,638,000 after buying an additional 1,472 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of Integrated Device Technology by 8.5% during the third quarter. Xact Kapitalforvaltning AB now owns 20,397 shares of the semiconductor company’s stock worth $959,000 after buying an additional 1,600 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Integrated Device Technology by 17.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,581 shares of the semiconductor company’s stock worth $337,000 after buying an additional 1,607 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Integrated Device Technology by 0.8% during the second quarter. Mutual of America Capital Management LLC now owns 220,689 shares of the semiconductor company’s stock worth $7,036,000 after buying an additional 1,768 shares during the period. Finally, Krane Funds Advisors LLC increased its position in shares of Integrated Device Technology by 26.9% during the second quarter. Krane Funds Advisors LLC now owns 9,471 shares of the semiconductor company’s stock worth $302,000 after buying an additional 2,009 shares during the period. Institutional investors own 95.87% of the company’s stock.

Several research firms have recently weighed in on IDTI. Zacks Investment Research cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 19th. Dougherty & Co cut shares of Integrated Device Technology from a “buy” rating to a “neutral” rating in a report on Wednesday, September 12th. Finally, Cowen raised their price target on shares of Integrated Device Technology from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, July 19th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.91.

In other news, SVP Sailesh Chittipeddi sold 33,300 shares of Integrated Device Technology stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $47.01, for a total transaction of $1,565,433.00. Following the completion of the transaction, the senior vice president now directly owns 193,095 shares in the company, valued at $9,077,395.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Shepard sold 3,000 shares of Integrated Device Technology stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $42.65, for a total transaction of $127,950.00. Following the transaction, the vice president now owns 75,569 shares of the company’s stock, valued at $3,223,017.85. The disclosure for this sale can be found here. Insiders sold 56,300 shares of company stock valued at $2,545,983 over the last 90 days. Corporate insiders own 1.23% of the company’s stock.

NASDAQ:IDTI opened at $46.75 on Friday. The company has a quick ratio of 4.17, a current ratio of 4.65 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 36.81, a P/E/G ratio of 3.23 and a beta of 1.69. Integrated Device Technology Inc has a 12 month low of $26.96 and a 12 month high of $47.45.

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

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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 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.

Further Reading: Fundamental Analysis and Individual Investors

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

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