Envestnet Asset Management Inc. Trims Stake in Integrated Device Technology (IDTI)

Envestnet Asset Management Inc. reduced its stake in shares of Integrated Device Technology (NASDAQ:IDTI) by 71.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,410 shares of the semiconductor company’s stock after selling 18,353 shares during the period. Envestnet Asset Management Inc.’s holdings in Integrated Device Technology were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC grew its position in shares of Integrated Device Technology by 1.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 2,022,314 shares of the semiconductor company’s stock valued at $60,123,000 after acquiring an additional 30,489 shares during the period. Trigran Investments Inc. boosted its holdings in Integrated Device Technology by 19.5% in the 1st quarter. Trigran Investments Inc. now owns 1,824,673 shares of the semiconductor company’s stock worth $55,762,000 after buying an additional 297,888 shares during the period. Geode Capital Management LLC boosted its holdings in Integrated Device Technology by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,171,458 shares of the semiconductor company’s stock worth $34,827,000 after buying an additional 5,727 shares during the period. Obermeyer Wood Investment Counsel Lllp bought a new position in Integrated Device Technology in the 1st quarter worth approximately $33,274,000. Finally, Hodges Capital Management Inc. boosted its holdings in Integrated Device Technology by 10.9% in the 1st quarter. Hodges Capital Management Inc. now owns 1,064,224 shares of the semiconductor company’s stock worth $32,523,000 after buying an additional 104,544 shares during the period. 99.02% of the stock is owned by hedge funds and other institutional investors.

Get Integrated Device Technology alerts:

Integrated Device Technology opened at $34.82 on Friday, according to MarketBeat. Integrated Device Technology has a 1 year low of $23.07 and a 1 year high of $34.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.23 and a current ratio of 4.83. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 2.21 and a beta of 1.86.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, April 30th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Integrated Device Technology had a negative net margin of 1.44% and a positive return on equity of 23.10%. The business had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $222.20 million. During the same period in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. research analysts forecast that Integrated Device Technology will post 1.43 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Cowen set a $37.00 price objective on shares of Integrated Device Technology and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. ValuEngine raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, TheStreet raised shares of Integrated Device Technology from a “c+” rating to a “b” rating in a report on Wednesday, May 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus price target of $35.36.

In other Integrated Device Technology news, CEO Gregory L. Waters sold 15,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $30.22, for a total value of $453,300.00. Following the sale, the chief executive officer now directly owns 732,552 shares in the company, valued at approximately $22,137,721.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chris Allexandre sold 3,000 shares of the stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $34.17, for a total transaction of $102,510.00. Following the completion of the sale, the vice president now owns 71,724 shares in the company, valued at $2,450,809.08. The disclosure for this sale can be found here. Insiders sold a total of 139,307 shares of company stock worth $4,317,511 over the last quarter. Corporate insiders own 1.24% of the company’s stock.

Integrated Device Technology Company Profile

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.

Want to see what other hedge funds are holding IDTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Integrated Device Technology (NASDAQ:IDTI).

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