Shares are trading at $31.07 significantly above the 50 day moving average of $27.50 and much higher than the 200 day moving average of $25.45. The 50 day moving average moved up $3.57 whereas the 200 day average was up by +22.10%. Trading was heavy with 5,861K shares changing hands by the end of trading on Tuesday. Trading volume was up 333.61% over the stocks average daily volume.
Traders are feeling more bullish on Integrated Device Technology, I recently at least if you consider the decrease in short interest. The firm saw a fall in short interest of -6.03% between September 29, 2017 and October 13, 2017. Short shares decreased 540,159 over that period. The short-interest ratio increased to 8.0 and the percentage of shorted shares was 0.06% on October 13.
Additionally, here are a few investment firms who have increased or decreased their stake in (IDTI). Nj State Employees Deferred Compensation Plan cut its holdings by selling 15,000 shares a decrease of 60.0%. Nj State Employees Deferred Compensation Plan now holds 10,000 shares worth $266,000. The value of the position overall is down by 58.8%. Raymond James Financial Services Advisors, Inc. reduced its position by shedding 74 shares a decrease of 0.7% as of 09/30/2017. Raymond James Financial Services Advisors, Inc. now controls 10,442 shares with a value of $278,000. The total value of its holdings increased 2.6%.
As of the end of the quarter Aperio Group, LLC had sold a total of 2,191 shares trimming its holdings by 6.7%. The value of the investment in (IDTI) went from $839,000 to $806,000 a change of 3.9% quarter to quarter. State Of New Jersey Common Pension Fund D trimmed its ownership by selling 190,000 shares a decrease of 23.2% in the quarter. State Of New Jersey Common Pension Fund D owns 630,000 shares valued at $16,745,000. The value of the position overall is down by 20.8%.
On August 1 the company was changed to “Underperform” according to a Bank of America report which is down from the previous “Buy” rating. October 18 investment analysts at Barclays held the company rating at “Underweight” but raised the price expectation to $24.00 from $19.00.
On October 31, 2017 the stock rating was rated “” in a report from Summit Redstone Partners up from the previous “” rating.
Integrated Device Technology, I currently has a P/E ratio of 40.35 and the market value is 4.15B. As of the latest earnings report the EPS was $0.77 and is projected to be $1.49 for the current year with 133,445,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.43 with next year’s EPS projected to be $1.75.
Integrated Device Technology, Inc., launched on June 10, 1987, develops system-level solutions that optimize its customers’ applications. The Company operates through two segments: the Communications, and the Computing, Consumer and Industrial. The Company 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 segments. 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 Company offers solutions in designing communications, computing, consumer, automotive and industrial applications. The Company 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..