Integrated Device Technology Inc. (IDTI) VP Sells $242,535.00 in Stock
Integrated Device Technology Inc. (NASDAQ:IDTI) VP Matthew D. Brandalise sold 9,500 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $25.53, for a total transaction of $242,535.00. Following the transaction, the vice president now directly owns 71,073 shares in the company, valued at $1,814,493.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Integrated Device Technology Inc. (NASDAQ:IDTI) opened at 23.40 on Thursday. The firm’s 50-day moving average is $22.36 and its 200-day moving average is $21.50. The firm has a market cap of $3.14 billion, a PE ratio of 20.58 and a beta of 2.15. Integrated Device Technology Inc. has a 12 month low of $16.22 and a 12 month high of $29.04.
Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, October 31st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business earned $184.10 million during the quarter, compared to analyst estimates of $183.99 million. Integrated Device Technology had a net margin of 21.49% and a return on equity of 25.09%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities analysts expect that Integrated Device Technology Inc. will post $1.40 earnings per share for the current year.
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Several analysts have recently commented on IDTI shares. JPMorgan Chase & Co. started coverage on shares of Integrated Device Technology in a research note on Thursday, August 18th. They issued an “overweight” rating and a $26.00 target price for the company. Zacks Investment Research cut shares of Integrated Device Technology from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 6th. Brean Capital restated a “buy” rating and issued a $23.00 target price (down previously from $26.00) on shares of Integrated Device Technology in a research note on Wednesday, August 3rd. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of Integrated Device Technology in a research note on Tuesday, November 1st. Finally, Roth Capital started coverage on shares of Integrated Device Technology in a research note on Wednesday, September 28th. They issued a “buy” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.20.
Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Integrated Device Technology by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,657 shares of the company’s stock valued at $108,000 after buying an additional 504 shares in the last quarter. Advisor Group Inc. purchased a new position in Integrated Device Technology during the second quarter valued at approximately $114,000. First Interstate Bank raised its position in Integrated Device Technology by 0.7% in the second quarter. First Interstate Bank now owns 7,097 shares of the company’s stock valued at $143,000 after buying an additional 48 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Integrated Device Technology by 72.7% in the second quarter. LS Investment Advisors LLC now owns 8,151 shares of the company’s stock worth $164,000 after buying an additional 3,432 shares in the last quarter. Finally, Cantab Capital Partners LLP bought a new position in shares of Integrated Device Technology during the second quarter worth about $166,000. Institutional investors and hedge funds own 94.66% of the company’s stock.
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.
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