Arizona State Retirement System Has $1.31 Million Position In Integrated Device Technology, Inc

Via sportsperspectives.com

Arizona State Retirement System boosted its position in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,500 shares of the semiconductor company’s stock after buying an additional 3,714 shares during the period. Arizona State Retirement System’s holdings in Integrated Device Technology were worth $1,314,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Integrated Device Technology during the fourth quarter worth approximately $555,000. Comerica Bank increased its stake in shares of Integrated Device Technology by 75.8% in the fourth quarter. Comerica Bank now owns 250,980 shares of the semiconductor company’s stock worth $6,314,000 after buying an additional 108,248 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Integrated Device Technology during the fourth quarter worth $566,000. FMR LLC increased its stake in shares of Integrated Device Technology by 244.3% in the fourth quarter. FMR LLC now owns 5,588,827 shares of the semiconductor company’s stock worth $131,673,000 after buying an additional 3,965,800 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Integrated Device Technology during the fourth quarter worth $393,000. Institutional investors own 94.96% of the company’s stock.

Integrated Device Technology, Inc. (NASDAQ:IDTI) traded down 1.42% on Thursday, hitting $24.30. 121,264 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $24.43 and a 200-day moving average price of $24.33. The stock has a market cap of $3.23 billion, a P/E ratio of 30.41 and a beta of 1.93. Integrated Device Technology, Inc. has a 12 month low of $18.49 and a 12 month high of $26.66.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, May 1st. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $175.70 million during the quarter, compared to the consensus estimate of $175.05 million. Integrated Device Technology had a return on equity of 21.80% and a net margin of 15.17%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. Equities analysts predict that Integrated Device Technology, Inc. will post $1.50 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. Longbow Research assumed coverage on shares of Integrated Device Technology in a research note on Friday, June 9th. They issued a “buy” rating and a $31.00 target price 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 Wednesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Integrated Device Technology in a research note on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Integrated Device Technology in a research note on Monday, April 17th. They issued a “neutral” rating and a $24.00 target price on the stock. Finally, Bank of America Corporation downgraded shares of Integrated Device Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Integrated Device Technology currently has a consensus rating of “Buy” and a consensus target price of $26.43.

In other news, VP Matthew D. Brandalise sold 14,876 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $25.91, for a total transaction of $385,437.16. Following the completion of the transaction, the vice president now directly owns 91,260 shares in the company, valued at approximately $2,364,546.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mario Montana sold 25,314 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $25.98, for a total value of $657,657.72. Following the transaction, the vice president now owns 120,087 shares of the company’s stock, valued at $3,119,860.26. The disclosure for this sale can be found here. Insiders have sold a total of 175,058 shares of company stock valued at $4,320,938 over the last quarter. Corporate insiders own 1.38% of the company’s stock.

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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