New York State Teachers Retirement System cut its stake in Integrated Device Technology, Inc. (NASDAQ:IDTI) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,037 shares of the semiconductor company’s stock after selling 13,500 shares during the period. New York State Teachers Retirement System owned 0.20% of Integrated Device Technology worth $7,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greenwood Capital Associates LLC lifted its stake in Integrated Device Technology by 1.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 234 shares during the period. Alliancebernstein L.P. lifted its stake in Integrated Device Technology by 5.1% during the 2nd quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after acquiring an additional 158,917 shares during the period. Northern Trust Corp lifted its stake in Integrated Device Technology by 1.7% during the 2nd quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock valued at $58,272,000 after acquiring an additional 37,579 shares during the period. Legal & General Group Plc lifted its stake in Integrated Device Technology by 23.6% during the 1st quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock valued at $2,026,000 after acquiring an additional 16,315 shares during the period. Finally, State Street Corp lifted its stake in Integrated Device Technology by 2.8% during the 2nd quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock valued at $125,094,000 after acquiring an additional 129,876 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Shares of Integrated Device Technology, Inc. (IDTI) opened at $33.17 on Friday. Integrated Device Technology, Inc. has a 1-year low of $21.80 and a 1-year high of $33.64. The stock has a market cap of $4,461.92, a price-to-earnings ratio of 30.54, a PEG ratio of 3.24 and a beta of 1.98. The company has a current ratio of 5.42, a quick ratio of 4.80 and a debt-to-equity ratio of 0.41.

Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.65%. The business had revenue of $204.40 million during the quarter, compared to analyst estimates of $200.99 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. equities research analysts forecast that Integrated Device Technology, Inc. will post 1.15 EPS for the current fiscal year.

In other news, insider Xianzhi Sean Fan sold 67,041 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $31.72, for a total transaction of $2,126,540.52. Following the transaction, the insider now owns 138,993 shares of the company’s stock, valued at approximately $4,408,857.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Chris Allexandre sold 1,028 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $32.23, for a total transaction of $33,132.44. Following the transaction, the vice president now directly owns 49,936 shares in the company, valued at approximately $1,609,437.28. The disclosure for this sale can be found here. 1.24% of the stock is owned by corporate insiders.

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IDTI has been the subject of several research reports. Barclays PLC lifted their price objective on shares of Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $30.00 target price on shares of Integrated Device Technology in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $32.23.

Integrated Device Technology 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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