Integrated Device Technology Inc Can Burn Your Long Portfolio. Option Traders Are Bearish


 Integrated Device Technology Inc Can Burn Your Long Portfolio. Option Traders Are Bearish

In today’s session Integrated Device Technology Inc (IDTI) recorded an unusually high (200) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious IDTI decrease. With 200 contracts traded and 3164 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: IDTI161021P00022000 closed last at: $0.5 or 9.1% down. About 1.48 million shares traded hands. Integrated Device Technology Inc (NASDAQ:IDTI) has risen 15.37% since March 1, 2016 and is uptrending. It has outperformed by 6.12% the S&P500.

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 $34.52M for 22.23 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. $35.0 is the highest target while $19 is the lowest. The $26.70 average target is 15.48% above today’s ($23.12) stock price. Integrated Device has been the topic of 21 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Craig Hallum maintained Integrated Device Technology Inc (NASDAQ:IDTI) on Tuesday, December 1 with “Buy” rating. The firm has “Buy” rating given on Tuesday, February 2 by Topeka Capital Markets. Craig Hallum maintained the shares of IDTI in a report on Tuesday, October 27 with “Buy” rating. The rating was initiated by Roth Capital on Thursday, September 29 with “Buy”. Zacks upgraded the stock to “Hold” rating in Thursday, August 6 report. The rating was maintained by Chardan Capital Markets on Tuesday, August 4 with “Buy”. The company was maintained on Wednesday, December 9 by Craig Hallum. TH Capital initiated the shares of IDTI in a report on Thursday, September 29 with “Buy” rating. The company was initiated on Monday, October 26 by Charter Equity. The firm has “Overweight” rating by JP Morgan given on Thursday, August 18.

Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.28, from 0.67 in 2016Q1. The ratio improved, 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.
Moreover, Bluecrest Cap Mngmt Ltd has 0.05% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 58,825 shares. Commercial Bank Of Montreal Can has 0% invested in the company for 155,049 shares. 1492 Cap Management Limited Liability Corporation holds 1.65% or 91,241 shares in its portfolio. Ameriprise Finance Inc holds 0.04% or 3.00M shares in its portfolio. California Employees Retirement Systems reported 413,100 shares or 0.01% of all its holdings. Victory Capital Management holds 2,406 shares or 0% of its portfolio. Loomis Sayles And Com L P reported 125 shares or 0% of all its holdings. Moreover, Shelton Management has 0.03% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 15,339 shares. Marshall Wace Limited Liability Partnership holds 111,612 shares or 0.02% of its portfolio. Citadel Advsr Ltd Liability Com accumulated 1.66 million shares or 0.04% of the stock. Kistler holds 17 shares or 0% of its portfolio. Kcg Holdg has 79,541 shares for 0.03% of their US portfolio. Moreover, Metropolitan Life Insur Ny has 0.03% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 217,283 shares. Moreover, Jpmorgan Chase & has 0.01% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 2.53M shares. Vanguard Group Inc holds 0.01% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI) for 9.69M shares.

Insider Transactions: Since April 15, 2016, the stock had 0 insider purchases, and 22 insider sales for $13.11 million net activity. Shares for $223,260 were sold by Taffe Norman P on Monday, May 23. PARNELL GORDON W sold $252,625 worth of stock or 12,500 shares. $149,524 worth of Integrated Device Technology Inc (NASDAQ:IDTI) was sold by BRANDALISE MATTHEW D on Wednesday, June 15. SCHOFIELD JOHN A sold $116,565 worth of stock. MONTANA MARIO had sold 2,312 shares worth $48,737 on Monday, May 16. Chittipeddi Sailesh sold $438,295 worth of stock. Shepard David sold 7,704 shares worth $175,921.

Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. The company has a market cap of $3.07 billion. The Firm operates through two divisions: the Communications, and the Computing, Consumer and Industrial. It has a 18.57 P/E ratio. It offers products in radio frequency , timing, wireless power transfer, serial switching, interfaces and sensing solutions.

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