RK Capital Management LLC Sells 26,900 Shares of Integrated Device Technology, Inc. (IDTI)

RK Capital Management LLC trimmed its stake in shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,679 shares of the semiconductor company’s stock after selling 26,900 shares during the period. Integrated Device Technology accounts for 3.0% of RK Capital Management LLC’s holdings, making the stock its 6th biggest position. RK Capital Management LLC owned about 0.43% of Integrated Device Technology worth $14,769,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Israel Discount Bank of New York purchased a new position in Integrated Device Technology during the first quarter valued at $103,000. Riverhead Capital Management LLC lifted its holdings in Integrated Device Technology by 77.4% during the second quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock valued at $124,000 after purchasing an additional 2,090 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Integrated Device Technology by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 525 shares in the last quarter. Elkfork Partners LLC lifted its holdings in Integrated Device Technology by 22.2% during the first quarter. Elkfork Partners LLC now owns 5,324 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 968 shares in the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new position in Integrated Device Technology during the second quarter valued at $152,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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In other news, Director S Kenneth Kannappan bought 2,000 shares of Integrated Device Technology stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $24.32 per share, for a total transaction of $48,640.00. Following the acquisition, the director now owns 18,637 shares in the company, valued at $453,251.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $24.43, for a total transaction of $497,736.82. Following the completion of the transaction, the vice president now owns 67,443 shares in the company, valued at $1,647,632.49. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by corporate insiders.

Integrated Device Technology, Inc. (IDTI) traded up 0.40% during trading on Friday, hitting $27.59. 2,281,682 shares of the stock traded hands. The company’s 50 day moving average price is $24.68 and its 200-day moving average price is $24.57. Integrated Device Technology, Inc. has a 52-week low of $19.38 and a 52-week high of $27.80. The stock has a market cap of $3.68 billion, a P/E ratio of 35.83 and a beta of 1.99.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data 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 return on equity of 20.34% and a net margin of 14.50%. The business had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $195.10 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Integrated Device Technology’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast that Integrated Device Technology, Inc. will post $1.49 earnings per share for the current fiscal year.

Several research firms have issued reports on IDTI. KeyCorp reaffirmed an “overweight” rating on shares of Integrated Device Technology in a report on Thursday. Loop Capital reaffirmed a “buy” rating and set a $29.00 price objective on shares of Integrated Device Technology in a report on Tuesday, August 22nd. BidaskClub downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Bank of America Corporation downgraded shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a report on Tuesday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.17.

Integrated Device Technology Company Profile

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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