NJ State Employees Deferred Compensation Plan Decreases Position in Integrated Device Technology, Inc. (IDTI)

NJ State Employees Deferred Compensation Plan cut its holdings in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 60.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the semiconductor company’s stock after selling 15,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Integrated Device Technology were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortaleza Asset Management Inc. raised its position in shares of Integrated Device Technology by 50.7% in the third quarter. Fortaleza Asset Management Inc. now owns 8,905 shares of the semiconductor company’s stock worth $237,000 after acquiring an additional 2,995 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Integrated Device Technology in the third quarter worth about $1,475,000. Crossmark Global Holdings Inc. acquired a new position in shares of Integrated Device Technology in the third quarter worth about $451,000. First Trust Advisors LP raised its position in shares of Integrated Device Technology by 334.0% in the third quarter. First Trust Advisors LP now owns 200,817 shares of the semiconductor company’s stock worth $5,338,000 after acquiring an additional 154,542 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Integrated Device Technology by 5.0% in the third quarter. Nationwide Fund Advisors now owns 362,854 shares of the semiconductor company’s stock worth $9,645,000 after acquiring an additional 17,440 shares during the period. Institutional investors own 96.44% of the company’s stock.

A number of research analysts have weighed in on the stock. Loop Capital upped their price objective on shares of Integrated Device Technology from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. KeyCorp restated an “overweight” rating on shares of Integrated Device Technology in a research report on Thursday, September 14th. Zacks Investment Research downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Craig Hallum upped their price target on shares of Integrated Device Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of Integrated Device Technology in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.58.

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In related news, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $24.43, for a total transaction of $497,736.82. Following the completion of the sale, the vice president now owns 67,443 shares of the company’s stock, valued at approximately $1,647,632.49. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.24% of the stock is currently owned by corporate insiders.

Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) opened at $31.30 on Friday. The company has a market cap of $4,176.83, a PE ratio of 28.45, a PEG ratio of 3.02 and a beta of 1.98. The company has a current ratio of 5.42, a quick ratio of 5.29 and a debt-to-equity ratio of 0.62.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.65%. The company had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $200.99 million. During the same quarter in the prior year, the company earned $0.34 EPS. Integrated Device Technology’s revenue was up 11.1% compared to the same quarter last year. analysts predict that Integrated Device Technology, Inc. will post 1.15 earnings per share for the current year.

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.

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

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