Trigran Investments buys $11,905,013 stake in Integrated Device Technology Inc (IDTI)

Integrated Device Technology Inc (IDTI) : Trigran Investments scooped up 363,230 additional shares in Integrated Device Technology Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 619,730 shares of Integrated Device Technology Inc which is valued at $11,905,013.Integrated Device Technology Inc makes up approximately 2.99% of Trigran Investments’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in IDTI in the latest quarter, The investment management firm added 1,112 additional shares and now holds a total of 599,120 shares of Integrated Device Technology Inc which is valued at $11,509,095. Integrated Device Technology Inc makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio. Quadrant Capital Group added IDTI to its portfolio by purchasing 62 company shares during the most recent quarter which is valued at $1,363.Public Employees Retirement Association Of Colorado reduced its stake in IDTI by selling 1,471 shares or 4.74% in the most recent quarter. The Hedge Fund company now holds 29,560 shares of IDTI which is valued at $650,024. Integrated Device Technology Inc makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio. Redwood Investments sold out all of its stake in IDTI during the most recent quarter. The investment firm sold 134,556 shares of IDTI which is valued $3,016,746.Lasalle Street Capital Management boosted its stake in IDTI in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 13,854 shares of Integrated Device Technology Inc which is valued at $302,571. Integrated Device Technology Inc makes up approx 0.28% of Lasalle Street Capital Management’s portfolio.

Integrated Device Technology Inc opened for trading at $20.3 and hit $20.335 on the upside on Tuesday, eventually ending the session at $20.19, with a gain of 0.35% or 0.07 points. The heightened volatility saw the trading volume jump to 13,38,472 shares. Company has a market cap of $2,712 M.

On the company’s financial health, Integrated Device Technology Inc reported $0.36 EPS for the quarter, based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus estimate of $0.36. The company had revenue of $192.10 million for the quarter, compared to analysts expectations of $191.11 million. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Integrated Device Technology Inc. JP Morgan Initiated Integrated Device Technology Inc on Aug 18, 2016 to “Overweight”, Price Target of the shares are set at $26.Shares were Reiterated by Dougherty & Company on Aug 2, 2016 to “Buy” and Lowered the Price Target to $ 26 from a previous price target of $28 .Integrated Device Technology Inc was Downgraded by Charter Equity to ” Mkt Perform” on Aug 2, 2016.

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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