Integrated Device Technology, Inc. (NASDAQ:IDTI) Position Raised by Texas Permanent School Fund

Texas Permanent School Fund raised its position in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 0.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 97,097 shares of the semiconductor company’s stock after buying an additional 500 shares during the period. Texas Permanent School Fund owned 0.07% of Integrated Device Technology worth $2,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in Integrated Device Technology by 23.6% in the first quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock valued at $2,026,000 after buying an additional 16,315 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Integrated Device Technology by 57.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,487,425 shares of the semiconductor company’s stock valued at $64,151,000 after buying an additional 907,200 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Integrated Device Technology by 5.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,207 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 500 shares during the last quarter. US Bancorp DE raised its stake in shares of Integrated Device Technology by 87.6% in the first quarter. US Bancorp DE now owns 72,206 shares of the semiconductor company’s stock valued at $1,708,000 after buying an additional 33,718 shares during the last quarter. Finally, State Treasurer State of Michigan raised its stake in shares of Integrated Device Technology by 0.4% in the first quarter. State Treasurer State of Michigan now owns 54,220 shares of the semiconductor company’s stock valued at $1,283,000 after buying an additional 200 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

Integrated Device Technology, Inc. (IDTI) traded down 0.47% during trading on Friday, reaching $23.36. 991,866 shares of the company were exchanged. The firm’s 50-day moving average is $25.29 and its 200 day moving average is $24.56. The company has a market capitalization of $3.12 billion, a P/E ratio of 30.34 and a beta of 1.97. Integrated Device Technology, Inc. has a one year low of $19.35 and a one year high of $27.09.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share (EPS) 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 company had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $195.10 million. During the same quarter last year, the firm earned $0.36 EPS. Integrated Device Technology’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts anticipate that Integrated Device Technology, Inc. will post $1.49 EPS for the current fiscal year.

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Several brokerages have issued reports on IDTI. BidaskClub lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Bank of America Corporation lowered shares of 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. Needham & Company LLC reiterated a “buy” rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Longbow Research initiated coverage on shares of Integrated Device Technology in a report on Friday, June 9th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, Zacks Investment Research raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.82.

In related news, VP Mario Montana sold 25,314 shares of Integrated Device Technology stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $25.98, for a total transaction of $657,657.72. Following the completion of the sale, the vice president now owns 120,087 shares of the company’s stock, valued at $3,119,860.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew D. Brandalise sold 14,876 shares of Integrated Device Technology stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.91, for a total value of $385,437.16. Following the sale, the vice president now directly owns 91,260 shares of the company’s stock, valued at approximately $2,364,546.60. The disclosure for this sale can be found here. Insiders sold 261,731 shares of company stock worth $6,441,260 in the last quarter. 1.24% of the stock is 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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