State Board of Administration of Florida Retirement System Has $2,577,000 Holdings in Integrated Device Technology, Inc. (IDTI)

State Board of Administration of Florida Retirement System maintained its stake in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,904 shares of the semiconductor company’s stock at the end of the 2nd quarter. State Board of Administration of Florida Retirement System owned approximately 0.08% of Integrated Device Technology worth $2,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDTI. Snow Capital Management LP grew its stake in shares of Integrated Device Technology by 2,388.4% during the 1st quarter. Snow Capital Management LP now owns 1,207,492 shares of the semiconductor company’s stock valued at $28,581,000 after buying an additional 1,158,967 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Integrated Device Technology by 57.4% during the 2nd 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 period. Chartwell Investment Partners LLC purchased a new stake in shares of Integrated Device Technology during the 1st quarter valued at $20,815,000. Alliancebernstein L.P. grew its stake in shares of Integrated Device Technology by 28.8% during the 1st quarter. Alliancebernstein L.P. now owns 3,093,168 shares of the semiconductor company’s stock valued at $73,215,000 after buying an additional 692,356 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Integrated Device Technology during the 1st quarter valued at $13,787,000. 95.90% of the stock is owned by institutional investors.

Several analysts have recently issued reports on the stock. Barclays PLC reissued an “underweight” rating on shares of Integrated Device Technology in a research note on Friday, July 21st. Zacks Investment Research cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Bank of America Corporation cut shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective for the company. in a research note on Tuesday, August 1st. Needham & Company LLC reissued a “buy” rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Finally, Longbow Research assumed coverage on shares of Integrated Device Technology in a research note on Friday, June 9th. They set a “buy” rating and a $31.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Hold” and a consensus target price of $28.17.

Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) opened at 24.80 on Monday. The company’s 50-day moving average is $24.62 and its 200-day moving average is $24.49. Integrated Device Technology, Inc. has a 12 month low of $19.35 and a 12 month high of $27.09. The stock has a market capitalization of $3.31 billion, a PE ratio of 32.21 and a beta of 1.99.

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 analysts’ consensus estimates 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 firm had revenue of $196.71 million during the quarter, compared to analyst estimates of $195.10 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that Integrated Device Technology, Inc. will post $1.49 earnings per share for the current fiscal year.

In other news, Director S Kenneth Kannappan bought 2,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $24.32 per share, for a total transaction of $48,640.00. Following the purchase, the director now owns 18,637 shares of the company’s stock, valued at approximately $453,251.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mario Montana sold 20,374 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total transaction of $497,736.82. Following the completion of the transaction, the vice president now owns 67,443 shares in the company, valued at $1,647,632.49. The disclosure for this sale can be found here. Insiders sold a total of 221,541 shares of company stock worth $5,398,165 over the last quarter. 1.24% of the stock is currently owned by company insiders.

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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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