Wedge Capital Management L L P NC reduced its position in Integrated Device Technology, Inc. (NASDAQ:IDTI) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,425,531 shares of the semiconductor company’s stock after selling 19,063 shares during the period. Wedge Capital Management L L P NC’s holdings in Integrated Device Technology were worth $36,764,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Israel Discount Bank of New York bought a new stake in Integrated Device Technology during the first quarter worth about $103,000. TrimTabs Asset Management LLC increased its stake in Integrated Device Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 4,745 shares of the semiconductor company’s stock worth $112,000 after buying an additional 2,232 shares during the last quarter. Elkfork Partners LLC increased its stake in Integrated Device Technology by 22.2% in the first quarter. Elkfork Partners LLC now owns 5,324 shares of the semiconductor company’s stock worth $126,000 after buying an additional 968 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in Integrated Device Technology by 22.2% in the first quarter. Meadow Creek Investment Management LLC now owns 6,776 shares of the semiconductor company’s stock worth $160,000 after buying an additional 1,232 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in 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 worth $195,000 after buying an additional 1,496 shares during the last quarter. Institutional investors own 95.15% of the company’s stock.

Integrated Device Technology, Inc. (NASDAQ:IDTI) opened at 23.53 on Friday. The stock’s 50 day moving average is $25.51 and its 200 day moving average is $24.64. Integrated Device Technology, Inc. has a 52 week low of $19.02 and a 52 week high of $27.09. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 30.56 and a beta of 1.97.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, July 31st. The semiconductor company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $196.71 million during 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%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. Equities research analysts expect that Integrated Device Technology, Inc. will post $1.49 EPS for the current year.

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A number of research firms have issued reports on IDTI. Zacks Investment Research downgraded shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Longbow Research began coverage on shares of Integrated Device Technology in a research report on Friday, June 9th. They issued a “buy” rating and a $31.00 target price for the company. Needham & Company LLC increased their target price on shares of Integrated Device Technology from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) began coverage on shares of Integrated Device Technology in a research report on Monday, April 17th. They issued a “neutral” rating and a $24.00 target price for the company. Finally, Bank of America Corporation downgraded shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 target price for the company. in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Integrated Device Technology presently has an average rating of “Hold” and a consensus price target of $27.67.

In other Integrated Device Technology news, Director S Kenneth Kannappan acquired 2,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $24.32 per share, with a total value of $48,640.00. Following the completion of the transaction, the director now directly owns 18,637 shares in the company, valued at approximately $453,251.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mario Montana sold 20,374 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $24.43, for a total transaction of $497,736.82. Following the completion of the sale, the vice president now directly owns 67,443 shares in the company, valued at approximately $1,647,632.49. The disclosure for this sale can be found here. In the last three months, insiders sold 309,390 shares of company stock worth $7,586,982. 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.

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

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