Foundry Partners LLC cut its position in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,514 shares of the semiconductor company’s stock after selling 2,751 shares during the period. Foundry Partners LLC’s holdings in Integrated Device Technology were worth $3,134,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Israel Discount Bank of New York acquired a new stake in shares of Integrated Device Technology during the first quarter worth $103,000. TrimTabs Asset Management LLC raised its stake in shares of 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 period. Elkfork Partners LLC raised its stake in shares of 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 period. Meadow Creek Investment Management LLC raised its stake in shares of 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 period. Finally, Glen Harbor Capital Management LLC raised its stake in shares of 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 period. Institutional investors own 93.33% of the company’s stock.

Shares of Integrated Device Technology, Inc. (IDTI) opened at 24.06 on Wednesday. The company has a 50-day moving average price of $25.45 and a 200-day moving average price of $24.59. Integrated Device Technology, Inc. has a 12 month low of $19.14 and a 12 month high of $27.09. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 31.25 and a beta of 1.97.

Integrated Device Technology (NASDAQ:IDTI) last issued 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 return on equity of 20.34% and a net margin of 14.50%. The firm had revenue of $196.71 million during the quarter, compared to analyst estimates of $195.10 million. During the same period in the previous year, the company earned $0.36 EPS. Integrated Device Technology’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that Integrated Device Technology, Inc. will post $1.49 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Integrated Device Technology from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Longbow Research assumed coverage on Integrated Device Technology in a research note on Friday, June 9th. They issued a “buy” rating and a $31.00 target price for the company. Needham & Company LLC raised 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. Bank of America Corporation lowered Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 target price for the company. in a research note on Tuesday, August 1st. Finally, Pacific Crest restated an “overweight” rating and issued a $30.00 target price on shares of Integrated Device Technology in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.67.

In other news, Director S Kenneth Kannappan bought 2,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $24.32 per share, with a total value of $48,640.00. Following the acquisition, the director now directly owns 18,637 shares in the company, valued at $453,251.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mario Montana sold 20,374 shares of the company’s 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 completion of the transaction, the vice president now directly 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. In the last ninety days, insiders sold 261,731 shares of company stock valued at $6,441,260. Insiders own 1.24% of the company’s stock.

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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