Integrated Device Technology, Inc. (NASDAQ:IDTI) SVP Sailesh Chittipeddi Sells 21,849 Shares

Integrated Device Technology, Inc. (NASDAQ:IDTI) SVP Sailesh Chittipeddi sold 21,849 shares of Integrated Device Technology stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $24.36, for a total transaction of $532,241.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Sailesh Chittipeddi also recently made the following trade(s):

  • On Monday, May 15th, Sailesh Chittipeddi sold 4,538 shares of Integrated Device Technology stock. The stock was sold at an average price of $24.04, for a total transaction of $109,093.52.
  • On Monday, April 17th, Sailesh Chittipeddi sold 2,834 shares of Integrated Device Technology stock. The shares were sold at an average price of $23.21, for a total transaction of $65,777.14.

Integrated Device Technology, Inc. (NASDAQ IDTI) traded up 3.19% during trading on Friday, reaching $25.88. 1,489,613 shares of the company were exchanged. The firm’s 50-day moving average is $24.87 and its 200 day moving average is $24.43. The company has a market capitalization of $3.44 billion, a P/E ratio of 32.39 and a beta of 1.98. Integrated Device Technology, Inc. has a one year low of $18.49 and a one year high of $26.66.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, May 1st. The semiconductor company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 15.17% and a return on equity of 21.80%. The firm had revenue of $175.70 million during the quarter, compared to analyst estimates of $175.05 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts anticipate that Integrated Device Technology, Inc. will post $1.50 EPS for the current fiscal year.

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A number of research analysts recently commented on the stock. Longbow Research assumed coverage on shares of Integrated Device Technology in a research note on Friday, June 9th. They issued a “buy” rating and a $31.00 price target on the stock. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Needham & Company LLC boosted their price objective on shares of Integrated Device Technology from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 16th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Integrated Device Technology in a report on Monday, April 17th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Pacific Crest reissued an “overweight” rating and issued a $30.00 price objective on shares of Integrated Device Technology in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. Integrated Device Technology currently has an average rating of “Buy” and an average target price of $27.38.

A number of hedge funds and other institutional investors have recently modified their holdings of IDTI. Elkfork Partners LLC acquired a new stake in Integrated Device Technology during the fourth quarter worth $103,000. Israel Discount Bank of New York purchased a new position in shares of Integrated Device Technology during the first quarter worth about $103,000. TrimTabs Asset Management LLC boosted its position in shares of Integrated Device Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 4,745 shares of the semiconductor company’s stock worth $112,000 after buying an additional 2,232 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Integrated Device Technology by 22.2% in the first quarter. Meadow Creek Investment Management LLC now owns 6,776 shares of the semiconductor company’s stock worth $160,000 after buying an additional 1,232 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Integrated Device Technology by 22.2% in the first quarter. Glen Harbor Capital Management LLC now owns 8,228 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,496 shares during the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for Integrated Device Technology (NASDAQ:IDTI)

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