Congress Asset Management Co. MA Has $904,000 Stake in Integrated Device Technology, Inc. (NASDAQ:IDTI)

Congress Asset Management Co. MA raised its position in Integrated Device Technology, Inc. (NASDAQ:IDTI) by 20.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,042 shares of the semiconductor company’s stock after buying an additional 5,872 shares during the period. Congress Asset Management Co. MA’s holdings in Integrated Device Technology were worth $904,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its position in Integrated Device Technology by 23.6% in the first quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock worth $2,026,000 after buying an additional 16,315 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Integrated Device Technology by 57.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,487,425 shares of the semiconductor company’s stock worth $64,151,000 after buying an additional 907,200 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Integrated Device Technology by 5.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,207 shares of the semiconductor company’s stock worth $218,000 after buying an additional 500 shares in the last quarter. US Bancorp DE increased its position in Integrated Device Technology by 87.6% in the first quarter. US Bancorp DE now owns 72,206 shares of the semiconductor company’s stock valued at $1,708,000 after buying an additional 33,718 shares during the period. Finally, State Treasurer State of Michigan increased its position in 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 during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Integrated Device Technology, Inc. (IDTI) opened at 23.36 on Friday. Integrated Device Technology, Inc. has a one year low of $19.35 and a one year high of $27.09. The firm has a 50-day moving average of $25.29 and a 200 day moving average of $24.56. The stock has a market capitalization of $3.12 billion, a PE ratio of 30.34 and a beta of 1.97.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, July 31st. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.07. The business had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $195.10 million. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities research analysts anticipate that Integrated Device Technology, Inc. will post $1.49 earnings per share for the current fiscal year.

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Several research analysts recently commented on IDTI shares. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Longbow Research started coverage on shares of Integrated Device Technology in a research report on Friday, June 9th. They set a “buy” rating and a $31.00 price objective on the stock. BidaskClub cut shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Needham & Company LLC lifted their target price on shares of Integrated Device Technology from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $30.00 target price on shares of Integrated Device Technology in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $27.82.

In related news, VP Mario Montana sold 25,314 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $25.98, for a total transaction of $657,657.72. Following the sale, the vice president now owns 120,087 shares of the company’s stock, valued at $3,119,860.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Matthew D. Brandalise sold 14,876 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.91, for a total value of $385,437.16. Following the completion of the sale, the vice president now directly owns 91,260 shares in the company, valued at $2,364,546.60. The disclosure for this sale can be found here. Insiders sold 261,731 shares of company stock valued at $6,441,260 in the last quarter. 1.24% of the stock is currently owned by company 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.

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

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