Andor Capital Management L.l.c. Exits Position in Integrated Device Technology Inc (IDTI)

Integrated Device Technology Inc (IDTI) : Andor Capital Management L.l.c. has sold out all of its stake in Integrated Device Technology Inc during the most recent quarter, according to the disclosure filed by the company on Jul 5, 2016 with the SEC. The investment management company has sold out 750,000 shares of Integrated Device Technology Inc which is valued at $14,400,000.

Integrated Device Technology Inc opened for trading at $20.59 and hit $21.14 on the upside on Monday, eventually ending the session at $20.84, with a gain of 2.71% or 0.55 points. The heightened volatility saw the trading volume jump to 24,57,825 shares. Company has a market cap of $2,785 M.

On the company’s financial health, Integrated Device Technology Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.33. The company had revenue of $189.40 million for the quarter, compared to analysts expectations of $187.06 million. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on Integrated Device Technology Inc. Integrated Device Technology Inc was Upgraded by BofA/Merrill to ” Buy” on May 11, 2016. Needham Initiated Integrated Device Technology Inc on Apr 25, 2016 to “Buy”, Price Target of the shares are set at $26.

Integrated Device Technology Inc. (IDT) is a developer of mixed-signal semiconductor solutions. The Company offers semiconductors for communications infrastructure in both wired and wireless. It designs develops manufactures and markets a range of semiconductor. It operates in two segments: the Communications segment and the Computing and Consumer segment. Its Communications segment includes clock and timing solutions flow-control management devices including Serial RapidIO switching solutions and radio frequency (RF) products. Its Computing and Consumer segment includes clock generation and distribution products server memory interface products PCI Express switching solutions power management solutions and signal integrity products. It offers communications timing products serial rapidIO solutions RF products consumer and computing timing products memory interface products PCI express switching solutions power management solutions and signal integrity products.

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