First Citizens Bank & Trust Co. acquired a new position in Integrated Device Technology, Inc. (NASDAQ:IDTI) during the third quarter, according to its most recent filing with the SEC. The firm acquired 20,551 shares of the company’s stock, valued at approximately $475,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Nationwide Fund Advisors increased its position in shares of Integrated Device Technology by 0.9% in the third quarter. Nationwide Fund Advisors now owns 430,797 shares of the company’s stock valued at $9,951,000 after buying an additional 3,749 shares during the period. Rothschild Asset Management Inc. increased its position in shares of Integrated Device Technology by 18.0% in the third quarter. Rothschild Asset Management Inc. now owns 883,509 shares of the company’s stock valued at $20,409,000 after buying an additional 134,744 shares during the period. Rice Hall James & Associates LLC increased its position in shares of Integrated Device Technology by 5.2% in the second quarter. Rice Hall James & Associates LLC now owns 1,265,117 shares of the company’s stock valued at $25,467,000 after buying an additional 62,255 shares during the period. Stoneridge Investment Partners LLC purchased a new position in shares of Integrated Device Technology during the second quarter valued at about $1,194,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Integrated Device Technology during the second quarter valued at about $1,338,000. 94.55% of the stock is owned by hedge funds and other institutional investors.

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

Integrated Device Technology, Inc. (NASDAQ:IDTI) traded up 0.92% during trading on Friday, reaching $25.16. The company’s stock had a trading volume of 1,325,444 shares. Integrated Device Technology, Inc. has a 52 week low of $16.22 and a 52 week high of $25.87. The stock’s 50 day moving average is $24.38 and its 200-day moving average is $21.83. The firm has a market cap of $3.37 billion, a P/E ratio of 22.13 and a beta of 2.15.

Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, October 31st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $184.10 million for the quarter, compared to analyst estimates of $183.99 million. Integrated Device Technology had a return on equity of 25.09% and a net margin of 21.49%. Integrated Device Technology’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, equities research analysts forecast that Integrated Device Technology, Inc. will post $1.39 earnings per share for the current fiscal year.

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IDTI has been the topic of a number of recent analyst reports. Charter Equity upgraded shares of Integrated Device Technology from a “market perform” rating to a “buy” rating in a research note on Tuesday, November 1st. Roth Capital initiated coverage on shares of Integrated Device Technology in a research note on Wednesday, September 28th. They set a “buy” rating and a $26.00 price objective on the stock. Zacks Investment Research cut shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a research note on Tuesday. Loop Capital initiated coverage on shares of Integrated Device Technology in a research note on Monday, December 5th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Brean Capital restated a “buy” rating and set a $25.00 price objective (up from $23.00) on shares of Integrated Device Technology in a research note on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.35.

In related news, VP David Shepard sold 37,787 shares of the business’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $24.91, for a total transaction of $941,274.17. Following the sale, the vice president now owns 86,968 shares in the company, valued at approximately $2,166,372.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Norman P. Taffe sold 7,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $24.35, for a total value of $170,450.00. Following the sale, the director now owns 30,957 shares in the company, valued at approximately $753,802.95. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

Integrated Device Technology Company Profile

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.

5 Day Chart for NASDAQ:IDTI

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