NWQ Investment Management Company LLC cut its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,150,490 shares of the semiconductor company’s stock after selling 268,510 shares during the period. NWQ Investment Management Company LLC’s holdings in Integrated Device Technology were worth $34,204,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of IDTI. Public Employees Retirement System of Ohio raised its stake in 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. raised its stake in shares of 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 acquiring an additional 5,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 acquiring an additional 2,441 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Integrated Device Technology in the 3rd quarter valued at approximately $239,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Integrated Device Technology in the 3rd quarter valued at approximately $263,000. 97.16% of the stock is currently owned by institutional investors.
In other news, CEO Gregory L. Waters sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $28.33, for a total value of $283,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mario Montana sold 22,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $32.06, for a total transaction of $705,320.00. Following the completion of the transaction, the vice president now owns 74,705 shares of the company’s stock, valued at approximately $2,395,042.30. The disclosure for this sale can be found here. Insiders have sold a total of 138,823 shares of company stock valued at $4,353,162 in the last quarter. 1.24% of the stock is currently owned by company insiders.
Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Integrated Device Technology had a negative net margin of 0.33% and a positive return on equity of 20.26%. The company had revenue of $217.10 million during the quarter, compared to analysts’ expectations of $215.32 million. During the same quarter in the previous year, the business posted $0.35 EPS. The firm’s revenue was up 23.1% on a year-over-year basis. equities analysts forecast that Integrated Device Technology Inc will post 1.15 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on IDTI shares. Piper Jaffray Companies started coverage on shares of Integrated Device Technology in a research note on Monday, February 26th. They issued an “overweight” rating and a $33.00 price target on the stock. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. ValuEngine raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Needham & Company LLC restated 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. One 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.36.
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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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