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

Integrated Device Technology, Inc. (NASDAQ:IDTI) SVP Sailesh Chittipeddi sold 21,849 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $24.36, for a total value of $532,241.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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 shares were sold at an average price of $24.04, for a total value 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 value of $65,777.14.

Shares of Integrated Device Technology, Inc. (NASDAQ IDTI) traded up 4.12% during mid-day trading on Monday, hitting $25.51. The stock had a trading volume of 1,554,181 shares. Integrated Device Technology, Inc. has a one year low of $18.49 and a one year high of $26.66. The stock has a market cap of $3.39 billion, a P/E ratio of 31.93 and a beta of 1.93. The firm has a 50 day moving average of $24.43 and a 200-day moving average of $24.33.

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

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

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A number of research analysts recently issued reports on the company. Longbow Research assumed coverage on Integrated Device Technology in a research note on Friday, June 9th. They set a “buy” rating and a $31.00 price objective for the company. BidaskClub cut Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday. Needham & Company LLC boosted their price target on Integrated Device Technology from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research raised Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Integrated Device Technology in a report on Monday, April 17th. They issued a “neutral” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Integrated Device Technology presently has an average rating of “Buy” and an average target price of $26.77.

Several large investors have recently bought and sold shares of IDTI. Two Sigma Investments LP purchased a new stake in Integrated Device Technology during the fourth quarter valued at about $4,931,000. GSA Capital Partners LLP purchased a new stake in Integrated Device Technology during the fourth quarter valued at about $206,000. Shelton Capital Management increased its stake in Integrated Device Technology by 312.0% in the fourth quarter. Shelton Capital Management now owns 63,200 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 47,861 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Integrated Device Technology during the fourth quarter valued at about $1,002,000. Finally, Gideon Capital Advisors Inc. purchased a new stake in Integrated Device Technology during the fourth quarter valued at about $443,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.

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.

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