American International Group Inc. Buys 2,434 Shares of Integrated Device Technology Inc (IDTI)

American International Group Inc. raised its stake in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 346,622 shares of the semiconductor company’s stock after purchasing an additional 2,434 shares during the period. American International Group Inc.’s holdings in Integrated Device Technology were worth $16,295,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Atria Investments LLC bought a new stake in Integrated Device Technology during the second quarter valued at about $200,000. CIBC Asset Management Inc bought a new stake in Integrated Device Technology during the third quarter valued at about $217,000. Oakbrook Investments LLC bought a new stake in Integrated Device Technology during the third quarter valued at about $235,000. Keybank National Association OH bought a new stake in Integrated Device Technology during the third quarter valued at about $237,000. Finally, Trexquant Investment LP bought a new stake in Integrated Device Technology during the second quarter valued at about $295,000. 92.13% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Gregory L. Waters sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $42.63, for a total transaction of $852,600.00. Following the completion of the transaction, the chief executive officer now directly owns 790,370 shares of the company’s stock, valued at $33,693,473.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Sailesh Chittipeddi sold 33,300 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.01, for a total value of $1,565,433.00. Following the transaction, the senior vice president now directly owns 193,095 shares of the company’s stock, valued at $9,077,395.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,300 shares of company stock valued at $2,545,983. 1.23% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on IDTI. Zacks Investment Research lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. ValuEngine raised Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 19th. Dougherty & Co lowered Integrated Device Technology from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 12th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $37.50 price objective on shares of Integrated Device Technology in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Integrated Device Technology presently has an average rating of “Hold” and an average price target of $42.91.

NASDAQ IDTI opened at $46.86 on Friday. The stock has a market capitalization of $6.04 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 3.22 and a beta of 1.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.65 and a quick ratio of 4.17. Integrated Device Technology Inc has a twelve month low of $26.96 and a twelve month high of $47.45.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, October 29th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $235.48 million during the quarter, compared to analyst estimates of $234.07 million. Integrated Device Technology had a return on equity of 29.69% and a net margin of 2.06%. Equities research analysts predict that Integrated Device Technology Inc will post 1.45 earnings per share for the current fiscal year.

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

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