Integrated Device Technology Inc (IDTI) Position Boosted by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC increased its position in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,777,958 shares of the semiconductor company’s stock after acquiring an additional 614,235 shares during the period. Integrated Device Technology comprises 1.3% of Frontier Capital Management Co. LLC’s investment portfolio, making the stock its 4th biggest position. Frontier Capital Management Co. LLC owned approximately 4.35% of Integrated Device Technology worth $171,779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its position in Integrated Device Technology by 63.4% in the 2nd quarter. FMR LLC now owns 9,999,837 shares of the semiconductor company’s stock valued at $257,896,000 after purchasing an additional 3,878,581 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in Integrated Device Technology in the 2nd quarter valued at about $15,608,000. Hodges Capital Management Inc. raised its position in Integrated Device Technology by 135.8% in the 3rd quarter. Hodges Capital Management Inc. now owns 991,500 shares of the semiconductor company’s stock valued at $26,354,000 after purchasing an additional 571,025 shares in the last quarter. Teachers Advisors LLC raised its position in Integrated Device Technology by 202.2% in the 2nd quarter. Teachers Advisors LLC now owns 777,944 shares of the semiconductor company’s stock valued at $20,063,000 after purchasing an additional 520,484 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Integrated Device Technology by 369.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 311,528 shares of the semiconductor company’s stock valued at $8,281,000 after purchasing an additional 245,101 shares in the last quarter.

In other news, SVP Brian C. White sold 8,417 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $32.50, for a total value of $273,552.50. Following the transaction, the senior vice president now owns 108,737 shares in the company, valued at approximately $3,533,952.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chris Allexandre sold 1,028 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $32.23, for a total value of $33,132.44. Following the completion of the transaction, the vice president now owns 49,936 shares in the company, valued at approximately $1,609,437.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,264 shares of company stock worth $3,310,127. Company insiders own 1.24% of the company’s stock.

IDTI has been the topic of a number of analyst reports. Zacks Investment Research lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Barclays increased their price target on Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $30.00 price target on shares of Integrated Device Technology in a research report on Tuesday, October 17th. Roth Capital increased their price target on Integrated Device Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Dougherty & Co increased their price target on Integrated Device Technology from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.62.

Integrated Device Technology Inc (NASDAQ IDTI) traded up $0.87 on Thursday, hitting $32.62. The stock had a trading volume of 1,381,900 shares, compared to its average volume of 1,266,745. Integrated Device Technology Inc has a fifty-two week low of $22.70 and a fifty-two week high of $33.92. The stock has a market cap of $4,330.00, a P/E ratio of 45.31, a P/E/G ratio of 3.07 and a beta of 1.97. The company has a current ratio of 5.42, a quick ratio of 4.80 and a debt-to-equity ratio of 0.62.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $200.99 million. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. analysts forecast that Integrated Device Technology Inc will post 1.15 EPS for the current year.

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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.

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

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