Integrated Device Technology (NASDAQ:IDTI) CEO Gregory L. Waters sold 43,699 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $30.80, for a total transaction of $1,345,929.20. Following the completion of the sale, the chief executive officer now owns 806,420 shares in the company, valued at approximately $24,837,736. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of IDTI stock opened at $31.29 on Friday. Integrated Device Technology has a 52-week low of $23.07 and a 52-week high of $34.13. The company has a quick ratio of 4.23, a current ratio of 4.83 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 2.04 and a beta of 1.86.
Get Integrated Device Technology alerts:Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, April 30th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Integrated Device Technology had a negative net margin of 1.44% and a positive return on equity of 23.10%. The firm had revenue of $224.60 million during the quarter, compared to the consensus estimate of $222.20 million. During the same period in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. equities analysts expect that Integrated Device Technology will post 1.43 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in IDTI. Obermeyer Wood Investment Counsel Lllp bought a new position in shares of Integrated Device Technology during the 1st quarter valued at approximately $33,274,000. Garelick Capital Partners LP bought a new position in shares of Integrated Device Technology during the 4th quarter valued at approximately $20,343,000. Frontier Capital Management Co. LLC grew its position in shares of Integrated Device Technology by 11.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 5,777,958 shares of the semiconductor company’s stock valued at $171,779,000 after acquiring an additional 614,235 shares during the period. Cavalry Management Group LLC grew its position in shares of Integrated Device Technology by 159.2% during the 1st quarter. Cavalry Management Group LLC now owns 869,948 shares of the semiconductor company’s stock valued at $26,586,000 after acquiring an additional 534,341 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Integrated Device Technology by 19.6% during the 1st quarter. Schroder Investment Management Group now owns 2,733,203 shares of the semiconductor company’s stock valued at $83,527,000 after acquiring an additional 447,536 shares during the period. 97.80% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on IDTI. BidaskClub upgraded shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 21st. KeyCorp upped their target price on shares of Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Craig Hallum reaffirmed a “buy” rating and issued a $40.00 price objective (up from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. Bank of America raised shares of Integrated Device Technology from an “underperform” rating to a “neutral” rating and set a $30.00 price objective for the company in a research report on Tuesday, May 1st. Finally, ValuEngine downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Integrated Device Technology has an average rating of “Buy” and an average price target of $34.50.
About Integrated Device Technology
Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.
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