New York State Common Retirement Fund lessened its holdings in Integrated Device Technology Inc (NASDAQ:IDTI) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,300 shares of the semiconductor company’s stock after selling 14,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Integrated Device Technology were worth $6,262,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in IDTI. Pentwater Capital Management LP acquired a new position in Integrated Device Technology in the third quarter worth $143,381,000. Oregon Public Employees Retirement Fund boosted its holdings in Integrated Device Technology by 4,743.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,461,697 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,410,867 shares during the period. Alpine Associates Management Inc. acquired a new position in Integrated Device Technology in the third quarter worth $95,985,000. Canada Pension Plan Investment Board acquired a new position in Integrated Device Technology in the fourth quarter worth $84,707,000. Finally, FIL Ltd acquired a new position in Integrated Device Technology in the third quarter worth $51,711,000. 90.16% of the stock is owned by hedge funds and other institutional investors.
IDTI stock opened at $48.27 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 3.70 and a beta of 1.22. Integrated Device Technology Inc has a 1 year low of $27.71 and a 1 year high of $48.93.
Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, January 28th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The company had revenue of $240.59 million during the quarter, compared to the consensus estimate of $236.64 million. Integrated Device Technology had a net margin of 11.68% and a return on equity of 30.02%. As a group, analysts predict that Integrated Device Technology Inc will post 1.31 EPS for the current year.
A number of equities analysts have commented on IDTI shares. BidaskClub downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 9th. Charter Equity cut Integrated Device Technology from a “buy” rating to a “market perform” rating in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $42.91.
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About Integrated Device Technology
Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.
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