Employees Retirement System of Texas Has $5.38 Million Holdings in Integrated Device Technology Inc (IDTI)

Employees Retirement System of Texas reduced its holdings in Integrated Device Technology Inc (NASDAQ:IDTI) by 5.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 181,000 shares of the semiconductor company’s stock after selling 10,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Integrated Device Technology were worth $5,381,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in shares of Integrated Device Technology by 15.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after buying an additional 670 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Integrated Device Technology by 285.7% in the 4th quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock worth $201,000 after buying an additional 5,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Integrated Device Technology by 47.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock worth $227,000 after buying an additional 2,441 shares during the last quarter. Fortaleza Asset Management Inc. grew its position in shares of Integrated Device Technology by 50.7% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 8,905 shares of the semiconductor company’s stock worth $237,000 after buying an additional 2,995 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Integrated Device Technology in the 3rd quarter worth approximately $239,000. Hedge funds and other institutional investors own 96.17% of the company’s stock.

Shares of Integrated Device Technology Inc (NASDAQ:IDTI) opened at $29.84 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.01 and a current ratio of 5.62. Integrated Device Technology Inc has a 1 year low of $22.70 and a 1 year high of $34.13. The firm has a market capitalization of $3,841.76, a P/E ratio of -994.34, a P/E/G ratio of 2.83 and a beta of 1.96.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The company had revenue of $217.10 million for the quarter, compared to analyst estimates of $215.32 million. During the same period in the previous year, the company posted $0.35 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. research analysts predict that Integrated Device Technology Inc will post 1.15 EPS for the current fiscal year.

In related news, SVP Sailesh Chittipeddi sold 5,045 shares of Integrated Device Technology stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $31.23, for a total transaction of $157,555.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gregory L. Waters sold 5,000 shares of Integrated Device Technology stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the chief executive officer now owns 722,552 shares in the company, valued at $21,676,560. The disclosure for this sale can be found here. Insiders have sold 101,823 shares of company stock worth $3,195,142 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on the company. Loop Capital lifted their price objective on Integrated Device Technology from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. KeyCorp lifted their price objective on Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. ValuEngine upgraded Integrated Device Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Craig Hallum lifted their price objective on Integrated Device Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, BidaskClub lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $33.38.

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

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