November 30, 2016 - By Peter Erickson · 0 Comments
Integrated Device Technology Inc (NASDAQ:IDTI) institutional sentiment decreased to 0.94 in 2016 Q2. Its down -0.01, from 0.95 in 2016Q1. The ratio has worsened, as 139 hedge funds increased or started new holdings, while 146 sold and reduced positions in Integrated Device Technology Inc. The hedge funds in our partner’s database now own: 117.48 million shares, down from 121.33 million shares in 2016Q1. Also, the number of hedge funds holding Integrated Device Technology Inc in their top 10 holdings was flat from 2 to 2 for the same number . Sold All: 45 Reduced: 101 Increased: 98 New Position: 41.
Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. The company has a market cap of $3.15 billion. The Firm operates through two divisions: the Communications, and the Computing, Consumer and Industrial. It has a 20.75 P/E ratio. It offers products in radio frequency , timing, wireless power transfer, serial switching, interfaces and sensing solutions.
About 2.50M shares traded hands or 15.21% up from the average. Integrated Device Technology Inc (NASDAQ:IDTI) has risen 19.94% since April 27, 2016 and is uptrending. It has outperformed by 14.72% the S&P500.
Analysts await Integrated Device Technology Inc (NASDAQ:IDTI) to report earnings on February, 6. They expect $0.26 earnings per share, down 13.33% or $0.04 from last year’s $0.3 per share. IDTI’s profit will be $34.53M for 22.81 P/E if the $0.26 EPS becomes a reality. After $0.28 actual earnings per share reported by Integrated Device Technology Inc for the previous quarter, Wall Street now forecasts -7.14% negative EPS growth.
According to Zacks Investment Research, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers.”
Trigran Investments Inc. holds 3.29% of its portfolio in Integrated Device Technology Inc for 619,730 shares. Kingdom Ridge Capital Llc owns 220,000 shares or 2.16% of their US portfolio. Moreover, 1492 Capital Management Llc has 1.65% invested in the company for 91,241 shares. The Massachusetts-based Copper Rock Capital Partners Llc has invested 1.51% in the stock. Rice Hall James & Associates Llc, a California-based fund reported 1.27 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 11 insider sales for $9.99 million net activity.
Ratings analysis reveals 93% of Integrated Device’s analysts are positive. Out of 14 Wall Street analysts rating Integrated Device, 13 give it “Buy”, 1 “Sell” rating, while 0 recommend “Hold”. The lowest target is $19 while the high is $35.0. The stock’s average target of $26.70 is 12.61% above today’s ($23.71) share price. IDTI was included in 22 notes of analysts from August 4, 2015. Charter Equity initiated the shares of IDTI in a report on Monday, October 26 with “Buy” rating. Craig Hallum maintained the shares of IDTI in a report on Tuesday, October 27 with “Buy” rating. Craig Hallum maintained Integrated Device Technology Inc (NASDAQ:IDTI) rating on Tuesday, December 1. Craig Hallum has “Buy” rating and $33.0 price target. The company was initiated on Tuesday, December 15 by Pacific Crest. The firm earned “Buy” rating on Thursday, September 29 by TH Capital. The firm has “Underweight” rating given on Tuesday, August 2 by Barclays Capital. Brean Capital initiated Integrated Device Technology Inc (NASDAQ:IDTI) rating on Monday, May 23. Brean Capital has “Buy” rating and $26 price target. The firm has “Buy” rating by Topeka Capital Markets given on Tuesday, February 2. The firm earned “Buy” rating on Wednesday, December 9 by Craig Hallum. The firm earned “Buy” rating on Thursday, September 29 by Roth Capital.
Integrated Device Technology, Inc., incorporated on June 10, 1987, develops system-level solutions that optimize its customers’ applications. The Firm operates through two divisions: the Communications, and the Computing, Consumer and Industrial. The Firm offers products in radio frequency (RF), timing, wireless power transfer, serial switching, interfaces and sensing solutions. It offers a range of mixed-signal solutions for the communications, computing, consumer, automotive and industrial divisions. These products are used for development in areas, such as fourth generation (4G) infrastructure, network communications, cloud datacenters and power management for computing and mobile devices. The Firm offers solutions in designing communications, computing, consumer, automotive and industrial applications. The Firm markets its products to original equipment manufacturers (OEMs) through a range of channels, including direct sales, distributors, electronic manufacturing suppliers (EMSs) and independent sales representatives.
More important recent Integrated Device Technology Inc (NASDAQ:IDTI) news were published by: Fool.com which released: “Why Integrated Device Technology Inc. Stock Soared Today” on November 01, 2016, also Fool.com published article titled: “Why Integrated Device Technology, Inc. Fell 13% Today”, Reuters.com published: “BRIEF-Integrated device technology inc signed agreement with future electr…” on November 14, 2016. More interesting news about Integrated Device Technology Inc (NASDAQ:IDTI) was released by: Nasdaq.com and their article: “Integrated Device Technology Reaches Analyst Target Price” with publication date: November 21, 2016.
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By Peter Erickson