Integrated Device Technology Inc (IDTI) Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Integrated Device Technology Inc (NASDAQ:IDTI) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,326 shares of the semiconductor company’s stock after acquiring an additional 4,429 shares during the period. PNC Financial Services Group Inc.’s holdings in Integrated Device Technology were worth $2,083,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its position in Integrated Device Technology by 61.9% in the second quarter. Oppenheimer & Co. Inc. now owns 18,300 shares of the semiconductor company’s stock valued at $583,000 after acquiring an additional 7,000 shares during the last quarter. Tibra Equities Europe Ltd bought a new position in Integrated Device Technology in the second quarter valued at about $1,587,000. GSA Capital Partners LLP grew its position in Integrated Device Technology by 215.4% in the second quarter. GSA Capital Partners LLP now owns 21,964 shares of the semiconductor company’s stock valued at $700,000 after acquiring an additional 15,000 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Integrated Device Technology by 0.8% in the second quarter. Mutual of America Capital Management LLC now owns 220,689 shares of the semiconductor company’s stock valued at $7,036,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its position in Integrated Device Technology by 27.3% in the second quarter. Wesbanco Bank Inc. now owns 79,444 shares of the semiconductor company’s stock valued at $2,533,000 after acquiring an additional 17,056 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

NASDAQ:IDTI opened at $47.08 on Friday. The stock has a market cap of $6.04 billion, a PE ratio of 35.64, a PEG ratio of 3.19 and a beta of 1.90. The company has a current ratio of 5.66, a quick ratio of 4.98 and a debt-to-equity ratio of 0.78. Integrated Device Technology Inc has a 1-year low of $25.11 and a 1-year high of $47.45.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, July 30th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $228.52 million for the quarter, compared to analysts’ expectations of $226.91 million. Integrated Device Technology had a return on equity of 26.05% and a net margin of 0.21%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. sell-side analysts anticipate that Integrated Device Technology Inc will post 1.46 earnings per share for the current year.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. BidaskClub cut Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Dougherty & Co cut Integrated Device Technology from a “buy” rating to a “neutral” rating in a report on Wednesday. Cowen boosted their price target on Integrated Device Technology from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, July 19th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $37.50 price target on shares of Integrated Device Technology in a report on Tuesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $41.54.

In related news, VP Chris Allexandre sold 3,000 shares of Integrated Device Technology stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now directly owns 73,569 shares of the company’s stock, valued at $2,427,777. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory L. Waters sold 15,000 shares of Integrated Device Technology stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $31.65, for a total value of $474,750.00. Following the completion of the transaction, the chief executive officer now directly owns 780,370 shares in the company, valued at $24,698,710.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,587 shares of company stock worth $3,345,315. Company insiders own 1.23% of the company’s stock.

Integrated Device Technology Company Profile

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.

Featured Article: Market Capitalization in the Stock Market

Want to see what other hedge funds are holding IDTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Integrated Device Technology Inc (NASDAQ:IDTI).

Institutional Ownership by Quarter for Integrated Device Technology (NASDAQ:IDTI)

Receive News & Ratings for Integrated Device Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integrated Device Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply