Fmr LLC boosted its holdings in Integrated Device Technology, Inc. (NASDAQ:IDTI) by 63.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,999,837 shares of the semiconductor company’s stock after buying an additional 3,878,581 shares during the period. Fmr LLC owned approximately 7.50% of Integrated Device Technology worth $257,896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riverhead Capital Management LLC lifted its holdings in Integrated Device Technology by 77.4% in the second quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 2,090 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Integrated Device Technology by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 525 shares during the period. Fortaleza Asset Management Inc. acquired a new position in Integrated Device Technology in the second quarter valued at approximately $152,000. World Asset Management Inc acquired a new position in Integrated Device Technology in the second quarter valued at approximately $215,000. Finally, Summit Securities Group LLC acquired a new position in Integrated Device Technology in the second quarter valued at approximately $227,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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Several equities research analysts have weighed in on the stock. KeyCorp reiterated a “buy” rating and issued a $30.00 target price on shares of Integrated Device Technology in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, July 5th. Loop Capital reiterated a “buy” rating and issued a $29.00 target price on shares of Integrated Device Technology in a report on Tuesday, August 22nd. BidaskClub lowered shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.36.

In other news, VP Mario Montana sold 20,374 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total value of $497,736.82. Following the transaction, the vice president now owns 67,443 shares in the company, valued at approximately $1,647,632.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director S Kenneth Kannappan purchased 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $24.32 per share, for a total transaction of $48,640.00. Following the transaction, the director now directly owns 18,637 shares in the company, valued at approximately $453,251.84. The disclosure for this purchase can be found here. 1.24% of the stock is currently owned by insiders.

Shares of Integrated Device Technology, Inc. (NASDAQ IDTI) opened at 26.58 on Friday. The stock’s 50 day moving average is $24.77 and its 200 day moving average is $24.63. The company has a market cap of $3.55 billion, a P/E ratio of 34.52 and a beta of 1.99. Integrated Device Technology, Inc. has a 12 month low of $19.38 and a 12 month high of $28.08.

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

Integrated Device Technology 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.

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

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