Mckinley Capital Management LLC Delaware trimmed its stake in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 36.7% during the fourth quarter, HoldingsChannel reports. The firm owned 145,990 shares of the semiconductor company’s stock after selling 84,605 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Integrated Device Technology were worth $4,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board acquired a new stake in Integrated Device Technology during the fourth quarter valued at approximately $981,000. Swiss National Bank boosted its holdings in Integrated Device Technology by 2.9% during the fourth quarter. Swiss National Bank now owns 227,300 shares of the semiconductor company’s stock valued at $6,758,000 after purchasing an additional 6,300 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Integrated Device Technology by 319.1% during the fourth quarter. Teacher Retirement System of Texas now owns 45,948 shares of the semiconductor company’s stock valued at $1,366,000 after purchasing an additional 34,985 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Integrated Device Technology by 21.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,646 shares of the semiconductor company’s stock valued at $614,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its holdings in Integrated Device Technology by 213.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 104,634 shares of the semiconductor company’s stock valued at $3,111,000 after purchasing an additional 71,282 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

Integrated Device Technology Inc (IDTI) opened at $27.49 on Wednesday. The company has a market capitalization of $3,678.98, a P/E ratio of 25.05, a PEG ratio of 2.71 and a beta of 1.96. The company has a quick ratio of 5.01, a current ratio of 5.62 and a debt-to-equity ratio of 0.69. Integrated Device Technology Inc has a 1-year low of $22.70 and a 1-year high of $34.13.

Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, January 29th. The semiconductor company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The business had revenue of $217.10 million for the quarter, compared to the consensus estimate of $215.32 million. During the same period in the previous year, the business earned $0.35 EPS. Integrated Device Technology’s revenue was up 23.1% compared to the same quarter last year. research analysts anticipate that Integrated Device Technology Inc will post 1.15 earnings per share for the current fiscal year.

In related news, CEO Gregory L. Waters sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $28.33, for a total value of $283,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Shepard sold 22,778 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $29.95, for a total transaction of $682,201.10. Following the completion of the transaction, the vice president now owns 58,504 shares of the company’s stock, valued at approximately $1,752,194.80. The disclosure for this sale can be found here. Insiders sold a total of 91,120 shares of company stock valued at $2,897,646 in the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on IDTI shares. Barclays lifted their price objective on Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. ValuEngine raised Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research raised Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Craig Hallum boosted their target price on Integrated Device Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Summit Redstone raised Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $33.38.

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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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