Riverhead Capital Management LLC increased its holdings in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 77.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,790 shares of the semiconductor company’s stock after buying an additional 2,090 shares during the quarter. Riverhead Capital Management LLC’s holdings in Integrated Device Technology were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Integrated Device Technology by 4.1% during the first quarter. Vanguard Group Inc. now owns 10,548,562 shares of the semiconductor company’s stock valued at $249,684,000 after buying an additional 416,108 shares in the last quarter. FMR LLC grew its holdings in shares of Integrated Device Technology by 9.5% during the first quarter. FMR LLC now owns 6,121,256 shares of the semiconductor company’s stock valued at $144,890,000 after buying an additional 532,429 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Integrated Device Technology by 0.4% during the second quarter. Frontier Capital Management Co. LLC now owns 5,096,721 shares of the semiconductor company’s stock valued at $131,444,000 after buying an additional 17,937 shares in the last quarter. State Street Corp grew its holdings in shares of Integrated Device Technology by 3.1% during the first quarter. State Street Corp now owns 4,720,620 shares of the semiconductor company’s stock valued at $111,736,000 after buying an additional 142,841 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Integrated Device Technology by 5.1% during the second quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after buying an additional 158,917 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

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Integrated Device Technology, Inc. (IDTI) opened at 27.41 on Thursday. Integrated Device Technology, Inc. has a 52 week low of $19.38 and a 52 week high of $28.08. The stock has a market cap of $3.66 billion, a P/E ratio of 35.60 and a beta of 1.98. The firm has a 50-day moving average price of $25.50 and a 200-day moving average price of $24.83.

Integrated Device Technology (NASDAQ:IDTI) last released its 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 for the quarter, compared to the consensus estimate of $195.10 million. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. Integrated Device Technology’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, equities research analysts predict that Integrated Device Technology, Inc. will post $1.49 EPS for the current year.

In other news, Director S Kenneth Kannappan bought 2,000 shares of the stock in a transaction on 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 acquisition, the director now owns 18,637 shares in the company, valued at $453,251.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Mario Montana sold 20,374 shares of the stock in a transaction dated Thursday, August 10th. The stock was 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 of the company’s stock, valued at approximately $1,647,632.49. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by corporate insiders.

A number of research analysts have recently weighed in on IDTI shares. KeyCorp reiterated a “buy” rating and set a $30.00 price target on shares of Integrated Device Technology in a report on Friday, September 1st. Needham & Company LLC lifted their price target on Integrated Device Technology from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 16th. Susquehanna Bancshares Inc lifted their price target on Integrated Device Technology from $30.00 to $33.00 and gave the company a “positive” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Barclays PLC reiterated an “underweight” rating on shares of Integrated Device Technology in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.36.

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.

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

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