Worth Watching: Integrated Device Technology Inc Can’t Burn Your Short Portfolio. Has Another Weak Session

Worth Watching: Integrated Device Technology Inc Can't Burn Your Short Portfolio. Has Another Weak Session

The stock of Integrated Device Technology Inc (NASDAQ:IDTI) is a huge mover today! About 2.40M shares traded hands or 28.34% up from the average. Integrated Device Technology Inc (NASDAQ:IDTI) has risen 9.69% since March 7, 2016 and is uptrending. It has outperformed by 2.10% the S&P500.
The move comes after 8 months negative chart setup for the $2.92B company. It was reported on Oct, 10 by Barchart.com. We have $20.48 PT which if reached, will make NASDAQ:IDTI worth $204.40 million less.

Analysts await Integrated Device Technology Inc (NASDAQ:IDTI) to report earnings on October, 24. They expect $0.26 EPS, down 10.34% or $0.03 from last year’s $0.29 per share. IDTI’s profit will be $34.48 million for 21.17 P/E if the $0.26 EPS becomes a reality. After $0.30 actual EPS reported by Integrated Device Technology Inc for the previous quarter, Wall Street now forecasts -13.33% negative EPS growth.

Integrated Device Technology Inc (NASDAQ:IDTI) Ratings Coverage

Out of 14 analysts covering Integrated Device (NASDAQ:IDTI), 13 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 93% are positive. Integrated Device has been the topic of 21 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Craig Hallum given on Tuesday, October 27. The company was maintained on Monday, February 8 by Chardan Capital Markets. The company was initiated on Monday, May 23 by Brean Capital. The company was maintained on Tuesday, August 2 by Barclays Capital. JP Morgan initiated Integrated Device Technology Inc (NASDAQ:IDTI) rating on Thursday, August 18. JP Morgan has “Overweight” rating and $26 price target. The firm earned “Outperform” rating on Tuesday, February 2 by Wedbush. Topeka Capital Markets maintained it with “Buy” rating and $26 target price in Tuesday, February 2 report. As per Tuesday, December 1, the company rating was maintained by Craig Hallum. Zacks upgraded Integrated Device Technology Inc (NASDAQ:IDTI) rating on Thursday, August 6. Zacks has “Hold” rating and $22 price target. The stock of Integrated Device Technology Inc (NASDAQ:IDTI) has “Buy” rating given on Wednesday, May 11 by Bank of America.

According to Zacks Investment Research, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers.”

Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.28, from 0.67 in 2016Q1. The ratio is positive, as 45 funds sold all Integrated Device Technology Inc shares owned while 101 reduced positions. 41 funds bought stakes while 98 increased positions. They now own 117.48 million shares or 3.18% less from 121.33 million shares in 2016Q1.
Dalton Greiner Hartman Maher, a New York-based fund reported 567,007 shares. Airain Limited last reported 55,546 shares in the company. Voya Management Ltd Limited Liability Company holds 0.13% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI) for 2.66 million shares. Hbk Investments Limited Partnership last reported 298,008 shares in the company. Tower Rech Cap Limited (Trc) has 11,609 shares for 0.02% of their US portfolio. The Michigan-based State Treasurer State Of Michigan has invested 0.01% in Integrated Device Technology Inc (NASDAQ:IDTI). Kcg has 0.03% invested in the company for 79,541 shares. Calvert Investment Mgmt holds 0.13% or 126,611 shares in its portfolio. Strategic Advsrs Ltd Company last reported 0.1% of its portfolio in the stock. Nationwide Fund Advsrs holds 0.04% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI) for 427,048 shares. Art Advsr Ltd Liability Co accumulated 0.13% or 130,059 shares. Autus Asset Management Limited Liability has invested 0.24% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI). The North Carolina-based Commercial Bank Of America De has invested 0% in Integrated Device Technology Inc (NASDAQ:IDTI). Clearbridge Limited Liability Co holds 2.24 million shares or 0.05% of its portfolio. Checchi Capital Advisers Limited last reported 0% of its portfolio in the stock.

Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 22 sales for $13.11 million net activity. Another trade for 2,844 shares valued at $57,705 was sold by Chittipeddi Sailesh. Another trade for 1,000 shares valued at $19,200 was made by SCHOFIELD JOHN A on Friday, August 12. On Monday, May 16 the insider Gaulin Louise sold $54,534. The insider WHITE BRIAN C sold 4,510 shares worth $95,071. Shepard David also sold $39,968 worth of Integrated Device Technology Inc (NASDAQ:IDTI) shares. 12,500 shares with value of $252,625 were sold by PARNELL GORDON W on Thursday, May 5. MONTANA MARIO also sold $1.38 million worth of Integrated Device Technology Inc (NASDAQ:IDTI) shares.

Another recent and important Integrated Device Technology Inc (NASDAQ:IDTI) news was published by Fool.com which published an article titled: “Why Integrated Device Technology, Inc. Fell 13% Today” on August 02, 2016.

IDTI Company Profile

Integrated Device Technology, Inc., incorporated on June 10, 1987, develops system-level solutions that optimize its customers’ applications. The Firm operates through two divisions: the Communications, and the Computing, Consumer and Industrial. The Firm offers products in radio frequency (RF), timing, wireless power transfer, serial switching, interfaces and sensing solutions. It offers a range of mixed-signal solutions for the communications, computing, consumer, automotive and industrial divisions. These products are used for development in areas, such as fourth generation (4G) infrastructure, network communications, cloud datacenters and power management for computing and mobile devices. The Firm offers solutions in designing communications, computing, consumer, automotive and industrial applications. The Firm markets its products to original equipment manufacturers (OEMs) through a range of channels, including direct sales, distributors, electronic manufacturing suppliers (EMSs) and independent sales representatives.

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