Nationwide Fund Advisors Has $8,596,000 Stake in Integrated Device Technology Inc. (IDTI)
Nationwide Fund Advisors increased its stake in Integrated Device Technology Inc. (NASDAQ:IDTI) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 427,048 shares of the company’s stock after buying an additional 45,407 shares during the period. Nationwide Fund Advisors owned about 0.32% of Integrated Device Technology worth $8,596,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Integrated Device Technology by 16.6% in the first quarter. Renaissance Technologies LLC now owns 2,845,753 shares of the company’s stock valued at $58,167,000 after buying an additional 404,100 shares during the period. State Street Corp boosted its position in Integrated Device Technology by 0.5% in the first quarter. State Street Corp now owns 4,765,667 shares of the company’s stock valued at $97,406,000 after buying an additional 22,954 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in Integrated Device Technology during the first quarter valued at $4,090,000. Acrospire Investment Management LLC acquired a new position in Integrated Device Technology during the first quarter valued at $272,000. Finally, Squarepoint Ops LLC acquired a new position in Integrated Device Technology during the first quarter valued at $228,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Integrated Device Technology Inc. (NASDAQ:IDTI) traded up 0.14% during trading on Wednesday, reaching $20.93. The company had a trading volume of 1,337,559 shares. Integrated Device Technology Inc. has a 52 week low of $16.22 and a 52 week high of $29.04. The company has a market capitalization of $2.81 billion, a PE ratio of 16.97 and a beta of 1.99. The stock’s 50-day moving average price is $19.96 and its 200-day moving average price is $20.74.
Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business earned $192.10 million during the quarter, compared to analyst estimates of $191.06 million. Integrated Device Technology had a return on equity of 25.27% and a net margin of 24.36%. The company’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, equities analysts expect that Integrated Device Technology Inc. will post $1.41 EPS for the current fiscal year.
A number of research firms recently commented on IDTI. Bank of America Corp. upgraded Integrated Device Technology from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, May 26th. Vetr cut Integrated Device Technology from a “strong-buy” rating to a “buy” rating and set a $26.00 price target for the company. in a research report on Monday, May 30th. Dougherty & Co reduced their price target on Integrated Device Technology from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Brean Capital restated a “buy” rating and issued a $23.00 price target (down previously from $26.00) on shares of Integrated Device Technology in a research report on Wednesday, August 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price target (down previously from $27.00) on shares of Integrated Device Technology in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $26.36.
In other Integrated Device Technology news, VP Mario Montana sold 217,254 shares of Integrated Device Technology stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $19.72, for a total transaction of $4,284,248.88. Following the completion of the transaction, the vice president now owns 144,260 shares in the company, valued at approximately $2,844,807.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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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