Integrated Device Technology Inc (IDTI) Shares Bought by Moody Aldrich Partners LLC
Moody Aldrich Partners LLC lifted its holdings in Integrated Device Technology Inc (NASDAQ:IDTI) by 70.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,618 shares of the semiconductor company’s stock after buying an additional 42,658 shares during the quarter. Moody Aldrich Partners LLC owned 0.08% of Integrated Device Technology worth $3,303,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Atria Investments LLC purchased a new stake in Integrated Device Technology during the second quarter worth $200,000. Natixis purchased a new stake in shares of Integrated Device Technology in the first quarter valued at $244,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Integrated Device Technology in the first quarter valued at $266,000. Trexquant Investment LP purchased a new stake in shares of Integrated Device Technology in the second quarter valued at $295,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Integrated Device Technology in the first quarter valued at $288,000. Hedge funds and other institutional investors own 97.62% of the company’s stock.
In other news, VP Chris Allexandre sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $34.04, for a total value of $136,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory L. Waters sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $34.46, for a total value of $689,200.00. The disclosure for this sale can be found here. Insiders have sold 91,300 shares of company stock valued at $3,761,263 over the last 90 days. 1.23% of the stock is currently owned by insiders.
Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, July 30th. The semiconductor company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $228.52 million during the quarter, compared to analyst estimates of $226.91 million. Integrated Device Technology had a return on equity of 26.05% and a net margin of 0.21%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, research analysts anticipate that Integrated Device Technology Inc will post 1.46 earnings per share for the current year.
Several analysts have recently issued reports on IDTI shares. BidaskClub downgraded Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded Integrated Device Technology from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Saturday, June 30th. KeyCorp upped their price objective on Integrated Device Technology from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, July 5th. Cowen upped their price objective on Integrated Device Technology from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, July 19th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $37.50 target price on shares of Integrated Device Technology in a research note on Tuesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.54.
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 industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.
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