The SVP & CFO of Integrated Device Tech is Exercising Options

By Carrie Williams

Today it was reported that the SVP & CFO of Integrated Device Tech (NASDAQ: IDTI), Brian C. White, exercised options to buy 4,500 IDTI shares at $12.16 a share, for a total transaction value of $54.72K.

Following Brian C. White’s last IDTI Buy transaction on May 17, 2018, the stock climbed by 15.4%. Following this transaction Brian C. White’s holding in the company was increased by 3.99% to a total of $5.52 million.

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Based on Integrated Device Tech’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $229 million and quarterly net profit of $30.72 million. In comparison, last year the company earned revenue of $197 million and had a net profit of $16.71 million. IDTI’s market cap is $6.1B and the company has a P/E ratio of 5173.63. Currently, Integrated Device Tech has an average volume of 3.73M.

Six different firms, including KeyBanc and Craig-Hallum, currently also have a Buy rating on the stock. Based on 9 analyst ratings, the analyst consensus is Hold with an average price target of $45.71, reflecting a -2.9% downside.

The insider sentiment on Integrated Device Tech has been negative according to 64 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Integrated Device Technology, Inc. designs, develops, manufactures and markets semiconductor and system-level solutions for the advanced communications, computing, consumer, automotive, industrial and Internet-of-things markets. The company operates its business through the following segments: Communications, and Computing, Consumer & Industrial.