Glenmede Trust Co. NA Has $34.49 Million Position in Integrated Device Technology Inc (IDTI)

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Glenmede Trust Co. NA lifted its holdings in shares of Integrated Device Technology Inc (NASDAQ:IDTI) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,081,750 shares of the semiconductor company’s stock after buying an additional 41,137 shares during the period. Glenmede Trust Co. NA owned approximately 0.84% of Integrated Device Technology worth $34,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Integrated Device Technology by 48.3% during the first quarter. Victory Capital Management Inc. now owns 82,290 shares of the semiconductor company’s stock worth $2,515,000 after purchasing an additional 26,800 shares in the last quarter. Swiss National Bank raised its holdings in Integrated Device Technology by 2.2% during the first quarter. Swiss National Bank now owns 232,200 shares of the semiconductor company’s stock worth $7,096,000 after purchasing an additional 4,900 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in Integrated Device Technology during the first quarter worth about $1,146,000. Schwab Charles Investment Management Inc. raised its holdings in Integrated Device Technology by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 877,026 shares of the semiconductor company’s stock worth $26,802,000 after purchasing an additional 43,475 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its holdings in Integrated Device Technology by 14.8% during the first quarter. Glen Harbor Capital Management LLC now owns 22,168 shares of the semiconductor company’s stock worth $678,000 after purchasing an additional 2,856 shares in the last quarter. Institutional investors and hedge funds own 97.62% of the company’s stock.

Integrated Device Technology stock traded up $0.30 during mid-day trading on Friday, reaching $46.81. The company had a trading volume of 4,113,423 shares, compared to its average volume of 1,847,786. Integrated Device Technology Inc has a 1 year low of $26.96 and a 1 year high of $47.45. The company has a current ratio of 5.66, a quick ratio of 4.98 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.08 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 3.21 and a beta of 1.88.

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

In other news, SVP Sailesh Chittipeddi sold 33,300 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.01, for a total transaction of $1,565,433.00. Following the completion of the transaction, the senior vice president now directly owns 193,095 shares of the company’s stock, valued at approximately $9,077,395.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory L. Waters sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $34.46, for a total transaction of $689,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,300 shares of company stock valued at $3,761,263. Corporate insiders own 1.23% of the company’s stock.

Several research firms recently issued reports on IDTI. BidaskClub cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Saturday, June 30th. Craig Hallum increased their price target on shares of Integrated Device Technology from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Needham & Company LLC increased their price target on shares of Integrated Device Technology from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $49.00 target price (up from $42.00) on shares of Integrated Device Technology in a report on Tuesday, September 11th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Integrated Device Technology presently has an average rating of “Buy” and a consensus target price of $41.54.

About Integrated Device Technology

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.

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

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