Summit Securities Group LLC bought a new stake in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,784 shares of the semiconductor company’s stock, valued at approximately $227,000.

Other large investors also recently made changes to their positions in the company. Capstone Asset Management Co. increased its stake in shares of Integrated Device Technology by 0.6% in the second quarter. Capstone Asset Management Co. now owns 16,421 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 100 shares in the last quarter. Oakbrook Investments LLC increased its stake in shares of Integrated Device Technology by 1.5% in the second quarter. Oakbrook Investments LLC now owns 9,850 shares of the semiconductor company’s stock valued at $254,000 after buying an additional 150 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Integrated Device Technology by 0.3% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 60,442 shares of the semiconductor company’s stock valued at $1,431,000 after buying an additional 198 shares in the last quarter. First Manhattan Co. increased its stake in shares of Integrated Device Technology by 1.5% in the first quarter. First Manhattan Co. now owns 13,400 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 200 shares in the last quarter. Finally, State Treasurer State of Michigan increased its stake in shares of Integrated Device Technology by 0.4% in the first quarter. State Treasurer State of Michigan now owns 54,220 shares of the semiconductor company’s stock valued at $1,283,000 after buying an additional 200 shares in the last quarter. 95.15% of the stock is owned by institutional investors and hedge funds.

Shares of Integrated Device Technology, Inc. (NASDAQ IDTI) opened at 23.53 on Friday. The company has a 50-day moving average price of $25.51 and a 200 day moving average price of $24.64. Integrated Device Technology, Inc. has a 52 week low of $19.02 and a 52 week high of $27.09. The stock has a market capitalization of $3.14 billion, a P/E ratio of 30.56 and a beta of 1.97.

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 business 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 firm posted $0.36 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that Integrated Device Technology, Inc. will post $1.49 earnings per share for the current fiscal year.

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Several equities research analysts have recently commented on the company. BidaskClub downgraded Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research downgraded Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Susquehanna Bancshares Inc upped their target price on Integrated Device Technology from $30.00 to $33.00 and gave the company a “positive” rating in a report on Wednesday, June 28th. Barclays PLC reaffirmed an “underweight” rating on shares of Integrated Device Technology in a report on Friday, July 21st. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $30.00 target price on shares of Integrated Device Technology in a report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.67.

In other Integrated Device Technology news, VP Mario Montana sold 25,314 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $25.98, for a total value of $657,657.72. Following the completion of the transaction, the vice president now directly owns 120,087 shares of the company’s stock, valued at $3,119,860.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director S Kenneth Kannappan bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $24.32 per share, with a total value of $48,640.00. Following the completion of the purchase, the director now owns 18,637 shares of the company’s stock, valued at approximately $453,251.84. The disclosure for this purchase can be found here. Over the last three months, insiders sold 309,390 shares of company stock valued at $7,586,982. 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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