Kingdom Ridge Capital adds Integrated Device Technology Inc (IDTI) to its portfolio

Integrated Device Technology Inc (IDTI) : Kingdom Ridge Capital added new position in Integrated Device Technology Inc during the most recent quarter end. The investment management firm now holds 220,000 shares of Integrated Device Technology Inc which is valued at $4,226,200 , the company said in a statement filed on Aug 15, 2016 with the SEC.Integrated Device Technology Inc makes up approximately 3.18% of Kingdom Ridge Capital’s portfolio.

Other Hedge Funds, Including , Pinnacle Associates Ltd boosted its stake in IDTI in the latest quarter, The investment management firm added 1,142,185 additional shares and now holds a total of 1,164,085 shares of Integrated Device Technology Inc which is valued at $22,362,073. Integrated Device Technology Inc makes up approx 0.45% of Pinnacle Associates Ltd’s portfolio.Princeton Alpha Management Lp reduced its stake in IDTI by selling 61,672 shares or 79.95% in the most recent quarter. The Hedge Fund company now holds 15,471 shares of IDTI which is valued at $291,319. Integrated Device Technology Inc makes up approx 0.05% of Princeton Alpha Management Lp’s portfolio. Rothschild Asset Management Inc added IDTI to its portfolio by purchasing 748,765 company shares during the most recent quarter which is valued at $14,009,393. Integrated Device Technology Inc makes up approx 0.25% of Rothschild Asset Management Inc’s portfolio.Navellier Associates Inc reduced its stake in IDTI by selling 793 shares or 4.94% in the most recent quarter. The Hedge Fund company now holds 15,254 shares of IDTI which is valued at $285,402. Integrated Device Technology Inc makes up approx 0.04% of Navellier Associates Inc’s portfolio.Columbus Circle Investors reduced its stake in IDTI by selling 770,411 shares or 18.2% in the most recent quarter. The Hedge Fund company now holds 3,462,482 shares of IDTI which is valued at $64,783,038. Integrated Device Technology Inc makes up approx 0.62% of Columbus Circle Investors’s portfolio.

Integrated Device Technology Inc opened for trading at $20.03 and hit $20.51 on the upside on Thursday, eventually ending the session at $20.51, with a gain of 2.09% or 0.42 points. The heightened volatility saw the trading volume jump to 15,09,599 shares. Company has a market cap of $2,755 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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