First Mercantile Trust Co. lowered its position in Integrated Device Technology, Inc. (NASDAQ:IDTI) by 2.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,890 shares of the semiconductor company’s stock after selling 791 shares during the period. First Mercantile Trust Co.’s holdings in Integrated Device Technology were worth $720,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position in shares of Integrated Device Technology by 4.4% in the first quarter. Great West Life Assurance Co. Can now owns 78,748 shares of the semiconductor company’s stock worth $1,861,000 after buying an additional 3,330 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Integrated Device Technology by 480.3% in the first quarter. Canada Pension Plan Investment Board now owns 35,400 shares of the semiconductor company’s stock worth $838,000 after buying an additional 29,300 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Integrated Device Technology by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,789 shares of the semiconductor company’s stock worth $1,107,000 after buying an additional 600 shares during the period. WealthTrust Axiom LLC bought a new position in shares of Integrated Device Technology during the first quarter worth about $275,000. Finally, Wesbanco Bank Inc. boosted its position in shares of Integrated Device Technology by 44.2% in the first quarter. Wesbanco Bank Inc. now owns 30,371 shares of the semiconductor company’s stock worth $719,000 after buying an additional 9,302 shares during the period. Hedge funds and other institutional investors own 95.15% of the company’s stock.

Integrated Device Technology, Inc. (IDTI) opened at 23.53 on Friday. Integrated Device Technology, Inc. has a 12-month low of $19.02 and a 12-month high of $27.09. The stock’s 50 day moving average price is $25.51 and its 200 day moving average price is $24.64. The company has a market cap of $3.14 billion, a PE ratio of 30.56 and a beta of 1.97.

Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, July 31st. The semiconductor company reported $0.25 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $195.10 million. During the same quarter in the previous year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Integrated Device Technology, Inc. will post $1.49 EPS for the current year.

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A number of brokerages have issued reports on IDTI. Barclays PLC restated an “underweight” rating on shares of Integrated Device Technology in a report on Friday, July 21st. Zacks Investment Research cut Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Needham & Company LLC restated a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Bank of America Corporation cut Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 target price on the stock. in a report on Tuesday, August 1st. Finally, Longbow Research began coverage on Integrated Device Technology in a report on Friday, June 9th. They set a “buy” rating and a $31.00 target price on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Integrated Device Technology currently has a consensus rating of “Hold” and an average price target of $27.67.

In related news, VP Mario Montana sold 4,305 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $24.04, for a total transaction of $103,492.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sailesh Chittipeddi sold 4,538 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $24.04, for a total value of $109,093.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,390 shares of company stock worth $7,586,982. 1.24% of the stock is owned by corporate insiders.

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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