Is Selling Integrated Device Technology Inc Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Integrated Device Technology Inc Here a Winning Strategy? Option Traders Hate The Stock

In today’s session Integrated Device Technology Inc (IDTI) recorded an unusually high (500) 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 500 contracts traded and 4064 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: IDTI161021P00019000 closed last at: $0.3 or 50% up. About 1.50M shares traded hands. Integrated Device Technology Inc (NASDAQ:IDTI) has declined 0.80% since March 14, 2016 and is downtrending. It has underperformed by 6.41% 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 $35.06 million for 19.25 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 company was initiated on Tuesday, December 15 by Pacific Crest. The firm earned “Buy” rating on Monday, October 26 by Charter Equity. Craig Hallum maintained it with “Buy” rating and $33.0 target price in Tuesday, December 1 report. Barclays Capital maintained Integrated Device Technology Inc (NASDAQ:IDTI) on Tuesday, August 2 with “Underweight” rating. The rating was initiated by Bank of America with “Buy” on Friday, September 18. The firm has “Buy” rating by Needham given on Tuesday, August 2. The rating was initiated by TH Capital on Thursday, September 29 with “Buy”. The stock of Integrated Device Technology Inc (NASDAQ:IDTI) has “Buy” rating given on Tuesday, August 4 by Chardan Capital Markets. The firm has “Buy” rating by Bank of America given on Wednesday, May 11. The firm earned “Overweight” rating on Thursday, August 18 by JP Morgan.

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 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.
Suffolk Capital Limited Liability Corporation last reported 115,773 shares in the company. Putnam Ltd Llc holds 0.02% or 378,645 shares in its portfolio. Century reported 483,166 shares or 0.01% of all its holdings. Federated Investors Pa owns 76,008 shares or 0% of their US portfolio. The California-based Clarivest Asset Management Lc has invested 0.05% in Integrated Device Technology Inc (NASDAQ:IDTI). Argentus Capital Mgmt Limited Company last reported 5,358 shares in the company. Tygh Capital Mgmt, a Oregon-based fund reported 141,183 shares. Copper Rock Ltd Liability Corp holds 991,489 shares or 1.51% of its portfolio. Plante Moran Fincl Advisors Limited Liability Com, a Michigan-based fund reported 129 shares. Teachers has invested 0.03% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI). Seven Eight Ltd owns 3,563 shares or 0.02% of their US portfolio. Hbk Invests L P reported 298,008 shares or 0.05% of all its holdings. Kistler holds 0% or 17 shares in its portfolio. The Ohio-based Strs Ohio has invested 0% in Integrated Device Technology Inc (NASDAQ:IDTI). Moreover, Nj State Employees Deferred Compensation Plan has 0.53% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 125,000 shares.

Insider Transactions: Since May 5, 2016, the stock had 0 insider purchases, and 21 selling transactions for $13.05 million net activity. MONTANA MARIO sold $1.38 million worth of stock. 12,500 shares were sold by PARNELL GORDON W, worth $252,625. On Friday, August 12 the insider SCHOFIELD JOHN A sold $19,200. Shares for $60,226 were sold by BRANDALISE MATTHEW D on Monday, May 16. Shares for $438,295 were sold by Chittipeddi Sailesh. Shepard David also sold $175,921 worth of Integrated Device Technology Inc (NASDAQ:IDTI) on Wednesday, June 15. The insider WHITE BRIAN C sold 4,510 shares worth $95,071.

Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. The company has a market cap of $2.70 billion. The Firm operates through two divisions: the Communications, and the Computing, Consumer and Industrial. It has a 16.12 P/E ratio. It offers products in radio frequency , timing, wireless power transfer, serial switching, interfaces and sensing solutions.

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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