California Public Employees Retirement System Raises Stake in Integrated Device Technology, Inc. (IDTI)

California Public Employees Retirement System increased its position in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,500 shares of the semiconductor company’s stock after acquiring an additional 28,500 shares during the quarter. California Public Employees Retirement System owned about 0.25% of Integrated Device Technology worth $8,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IDTI. Riverhead Capital Management LLC lifted its stake 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 stake 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 about $152,000. Raymond James Financial Services Advisors Inc. acquired a new position in Integrated Device Technology in the first quarter valued at about $214,000. Finally, World Asset Management Inc acquired a new position in Integrated Device Technology in the second quarter valued at about $215,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) opened at 27.45 on Wednesday. The stock’s 50 day moving average price is $25.91 and its 200-day moving average price is $24.93. Integrated Device Technology, Inc. has a 52-week low of $19.38 and a 52-week high of $28.08. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 35.65 and a beta of 1.98.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data 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). The business had revenue of $196.71 million during the quarter, compared to analyst estimates of $195.10 million. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The firm’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 earnings per share. On average, analysts forecast that Integrated Device Technology, Inc. will post $1.49 EPS for the current year.

IDTI has been the topic of several analyst reports. BidaskClub lowered Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Needham & Company LLC increased their target price on Integrated Device Technology from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Pacific Crest reissued an “overweight” rating and issued a $30.00 target price on shares of Integrated Device Technology in a research note on Wednesday, June 21st. Susquehanna Bancshares Inc increased their target price on Integrated Device Technology from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised Integrated Device Technology from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Integrated Device Technology currently has a consensus rating of “Hold” and a consensus price target 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.

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

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