Insider Selling: Integrated Device Technology Inc (IDTI) VP Sells 22,000 Shares of Stock

Integrated Device Technology Inc (NASDAQ:IDTI) VP Mario Montana sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $32.06, for a total value of $705,320.00. Following the completion of the transaction, the vice president now directly owns 74,705 shares of the company’s stock, valued at $2,395,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Integrated Device Technology Inc (NASDAQ:IDTI) opened at $32.84 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.01 and a current ratio of 5.62. The firm has a market capitalization of $4,350.00, a P/E ratio of 44.99, a PEG ratio of 3.19 and a beta of 1.87. Integrated Device Technology Inc has a 52 week low of $22.70 and a 52 week high of $34.13.

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Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The business had revenue of $217.10 million during the quarter, compared to the consensus estimate of $215.32 million. During the same period in the prior year, the company posted $0.35 EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. research analysts anticipate that Integrated Device Technology Inc will post 1.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its stake in Integrated Device Technology by 15.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 670 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in Integrated Device Technology by 285.7% in the 4th quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 5,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Integrated Device Technology by 47.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 2,441 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Integrated Device Technology in the 3rd quarter valued at $239,000. Finally, ClariVest Asset Management LLC acquired a new position in Integrated Device Technology in the 3rd quarter valued at $263,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on IDTI shares. Zacks Investment Research downgraded Integrated Device Technology from a “hold” rating to a “strong sell” rating in a report on Friday, February 2nd. Barclays raised Integrated Device Technology from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $28.00 to $33.00 in a report on Wednesday, January 17th. KeyCorp upped their target price on Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. BidaskClub raised Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Finally, ValuEngine downgraded Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $33.36.

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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.

Insider Buying and Selling by Quarter for Integrated Device Technology (NASDAQ:IDTI)

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