State of New Jersey Common Pension Fund D Lowers Holdings in Integrated Device Technology, Inc. (IDTI)

State of New Jersey Common Pension Fund D lessened its stake in Integrated Device Technology, Inc. (NASDAQ:IDTI) by 23.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 630,000 shares of the semiconductor company’s stock after selling 190,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.47% of Integrated Device Technology worth $16,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of Integrated Device Technology by 334.0% in the 3rd quarter. First Trust Advisors LP now owns 200,817 shares of the semiconductor company’s stock valued at $5,338,000 after purchasing an additional 154,542 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Integrated Device Technology by 5.0% during the 3rd quarter. Nationwide Fund Advisors now owns 362,854 shares of the semiconductor company’s stock valued at $9,645,000 after acquiring an additional 17,440 shares in the last quarter. Strs Ohio increased its holdings in Integrated Device Technology by 11.7% during the 3rd quarter. Strs Ohio now owns 18,100 shares of the semiconductor company’s stock valued at $481,000 after acquiring an additional 1,900 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Integrated Device Technology by 15.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 670 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Integrated Device Technology by 16.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,516 shares of the semiconductor company’s stock valued at $271,000 after acquiring an additional 1,461 shares in the last quarter. Institutional investors and hedge funds own 97.50% of the company’s stock.

Integrated Device Technology, Inc. (IDTI) traded down $0.49 during mid-day trading on Tuesday, reaching $32.79. The company’s stock had a trading volume of 997,500 shares, compared to its average volume of 1,593,128. The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.80 and a current ratio of 5.42. Integrated Device Technology, Inc. has a 12-month low of $21.80 and a 12-month high of $33.92. The company has a market capitalization of $4,290.00, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 3.22 and a beta of 1.98.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Integrated Device Technology had a return on equity of 19.65% and a net margin of 13.32%. The business had revenue of $204.40 million during the quarter, compared to the consensus estimate of $200.99 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. equities analysts forecast that Integrated Device Technology, Inc. will post 1.15 EPS for the current fiscal year.

IDTI has been the subject of several recent research reports. KeyCorp restated a “buy” rating and set a $30.00 target price on shares of Integrated Device Technology in a report on Friday, September 1st. Craig Hallum raised their price target on shares of Integrated Device Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Loop Capital reissued a “buy” rating and issued a $29.00 target price on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. Finally, Bank of America Corporation raised their price target on shares of Integrated Device Technology from $27.00 to $30.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.23.

In related news, VP Chris Allexandre sold 1,028 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $32.23, for a total transaction of $33,132.44. Following the sale, the vice president now owns 49,936 shares in the company, valued at approximately $1,609,437.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Xianzhi Sean Fan sold 67,041 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $31.72, for a total value of $2,126,540.52. Following the completion of the sale, the insider now owns 138,993 shares in the company, valued at approximately $4,408,857.96. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by insiders.

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Integrated Device Technology 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.

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

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