Chartwell Investment Partners LLC reduced its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 710,460 shares of the semiconductor company’s stock after selling 103,939 shares during the period. Integrated Device Technology comprises 1.0% of Chartwell Investment Partners LLC’s portfolio, making the stock its 5th largest position. Chartwell Investment Partners LLC owned 0.55% of Integrated Device Technology worth $33,399,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Asset Management Inc. raised its holdings in shares of Integrated Device Technology by 1.3% during the second quarter. Rothschild Asset Management Inc. now owns 270,975 shares of the semiconductor company’s stock worth $8,639,000 after purchasing an additional 3,512 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Integrated Device Technology during the second quarter worth $1,037,000. Federated Investors Inc. PA raised its holdings in shares of Integrated Device Technology by 19.7% during the second quarter. Federated Investors Inc. PA now owns 61,419 shares of the semiconductor company’s stock worth $1,958,000 after purchasing an additional 10,118 shares during the period. Atria Investments LLC acquired a new stake in shares of Integrated Device Technology during the second quarter worth $200,000. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of Integrated Device Technology during the second quarter worth $1,587,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on IDTI. Zacks Investment Research reissued a “sell” rating on shares of Integrated Device Technology in a report on Tuesday. BidaskClub cut shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, November 2nd. Craig Hallum cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Wednesday, October 17th. ValuEngine raised shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 19th. Finally, Dougherty & Co cut shares of Integrated Device Technology from a “buy” rating to a “neutral” rating in a report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Integrated Device Technology has an average rating of “Hold” and a consensus target price of $42.91.
Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $235.48 million during the quarter, compared to analyst estimates of $234.07 million. Integrated Device Technology had a net margin of 2.06% and a return on equity of 29.69%. Equities research analysts predict that Integrated Device Technology Inc will post 1.45 EPS for the current year.
In other news, SVP Sailesh Chittipeddi sold 33,300 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $47.01, for a total transaction of $1,565,433.00. Following the completion of the transaction, the senior vice president now owns 193,095 shares in the company, valued at $9,077,395.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory L. Waters sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $42.63, for a total transaction of $852,600.00. Following the transaction, the chief executive officer now owns 790,370 shares of the company’s stock, valued at approximately $33,693,473.10. The disclosure for this sale can be found here. Insiders have sold 56,300 shares of company stock valued at $2,545,983 in the last 90 days. Insiders own 1.23% of the company’s stock.
Integrated Device Technology Profile
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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