Engineers Gate Manager LP Purchases Shares of 12,099 Integrated Device Technology Inc (IDTI)

Engineers Gate Manager LP purchased a new position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,099 shares of the semiconductor company’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Integrated Device Technology by 15.7% during the 2nd 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 last quarter. Advisor Group Inc. raised its position in shares of Integrated Device Technology by 13.7% during the 2nd quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Integrated Device Technology by 47.1% during the 4th 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 last quarter. Fortaleza Asset Management Inc. raised its position in shares of Integrated Device Technology by 50.7% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 8,905 shares of the semiconductor company’s stock worth $237,000 after purchasing an additional 2,995 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Integrated Device Technology during the 3rd quarter worth about $239,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

A number of analysts have commented on the stock. BidaskClub upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. KeyCorp reiterated a “buy” rating on shares of Integrated Device Technology in a report on Monday, January 29th. Craig Hallum reiterated a “buy” rating and issued a $40.00 price objective (up previously from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Finally, ValuEngine upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $33.38.

Shares of Integrated Device Technology Inc (IDTI) opened at $27.88 on Thursday. The company has a market cap of $3,690.00, a PE ratio of -929.33, a price-to-earnings-growth ratio of 2.71 and a beta of 1.96. The company has a quick ratio of 5.01, a current ratio of 5.62 and a debt-to-equity ratio of 0.69. Integrated Device Technology Inc has a 1-year low of $22.70 and a 1-year 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $217.10 million during the quarter, compared to the consensus estimate of $215.32 million. Integrated Device Technology had a negative net margin of 0.33% and a positive return on equity of 20.26%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. equities research analysts expect that Integrated Device Technology Inc will post 1.15 earnings per share for the current year.

In other news, SVP Sailesh Chittipeddi sold 5,045 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $31.23, for a total transaction of $157,555.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian C. White sold 8,417 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $32.50, for a total transaction of $273,552.50. Following the sale, the senior vice president now owns 108,737 shares of the company’s stock, valued at approximately $3,533,952.50. The disclosure for this sale can be found here. Insiders have sold a total of 91,120 shares of company stock valued at $2,897,646 in the last 90 days. Insiders own 1.24% of the company’s stock.

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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.

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

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