Teachers Advisors LLC Increases Position in Integrated Device Technology, Inc. (NASDAQ:IDTI)

Teachers Advisors LLC raised its stake in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,460 shares of the semiconductor company’s stock after buying an additional 1,775 shares during the period. Teachers Advisors LLC owned approximately 0.19% of Integrated Device Technology worth $6,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDTI. Wesbanco Bank Inc. raised its position in shares of Integrated Device Technology by 44.2% in the first quarter. Wesbanco Bank Inc. now owns 30,371 shares of the semiconductor company’s stock valued at $719,000 after buying an additional 9,302 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Integrated Device Technology by 1,353.2% in the first quarter. Russell Investments Group Ltd. now owns 332,273 shares of the semiconductor company’s stock valued at $7,865,000 after buying an additional 309,408 shares in the last quarter. First Mercantile Trust Co. raised its position in shares of Integrated Device Technology by 22.3% in the first quarter. First Mercantile Trust Co. now owns 28,681 shares of the semiconductor company’s stock valued at $678,000 after buying an additional 5,223 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Integrated Device Technology by 22.2% in the first quarter. Glen Harbor Capital Management LLC now owns 8,228 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 1,496 shares in the last quarter. Finally, Profund Advisors LLC raised its position in shares of Integrated Device Technology by 9.6% in the first quarter. Profund Advisors LLC now owns 45,794 shares of the semiconductor company’s stock valued at $1,084,000 after buying an additional 4,026 shares in the last quarter. 95.15% of the stock is currently owned by institutional investors.

Integrated Device Technology, Inc. (NASDAQ IDTI) opened at 23.53 on Friday. The firm’s 50-day moving average price is $25.51 and its 200-day moving average price is $24.64. Integrated Device Technology, Inc. has a 12 month low of $19.02 and a 12 month high of $27.09. The stock has a market cap of $3.14 billion, a P/E ratio of 30.56 and a beta of 1.97.

Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.07. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The business had revenue of $196.71 million for the quarter, compared to analyst estimates of $195.10 million. During the same quarter last year, the firm posted $0.36 earnings per share. Integrated Device Technology’s revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Integrated Device Technology, Inc. will post $1.49 earnings per share for the current year.

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Several brokerages recently issued reports on IDTI. Barclays PLC reaffirmed an “underweight” rating on shares of Integrated Device Technology in a research report on Friday, July 21st. Zacks Investment Research downgraded Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Needham & Company LLC reiterated a “buy” rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Bank of America Corporation downgraded Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research note on Tuesday, August 1st. Finally, Longbow Research assumed coverage on Integrated Device Technology in a research note on Friday, June 9th. They set a “buy” rating and a $31.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.67.

In related news, SVP Sailesh Chittipeddi sold 4,538 shares of Integrated Device Technology stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $24.04, for a total transaction of $109,093.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory L. Waters sold 19,762 shares of Integrated Device Technology stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $24.04, for a total transaction of $475,078.48. The disclosure for this sale can be found here. Insiders have sold a total of 309,390 shares of company stock valued at $7,586,982 over the last three months. 1.24% of the stock is currently owned by insiders.

About Integrated Device Technology

Integrated Device Technology, Inc develops system-level solutions that optimize its customers’ applications. The Company operates through two segments: the Communications, and the Computing, Consumer and Industrial. It offers products in radio frequency (RF), timing, wireless power transfer, serial switching, interfaces and sensing solutions.

Institutional Ownership by Quarter for Integrated Device Technology (NASDAQ:IDTI)

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