First Mercantile Trust Co Lowers stake in Integrated Device Technology Inc (IDTI)

Integrated Device Technology Inc (IDTI) : First Mercantile Trust Co reduced its stake in Integrated Device Technology Inc by 63.94% during the most recent quarter end. The investment management company now holds a total of 19,161 shares of Integrated Device Technology Inc which is valued at $435,913 after selling 33,981 shares in Integrated Device Technology Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Integrated Device Technology Inc makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added IDTI to its portfolio by purchasing 11,435 company shares during the most recent quarter which is valued at $260,146. Integrated Device Technology Inc makes up approx 0.03% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in IDTI by selling 35,919 shares or 60.21% in the most recent quarter. The Hedge Fund company now holds 23,738 shares of IDTI which is valued at $557,131.

Integrated Device Technology Inc closed down -0.27 points or -1.17% at $22.75 with 23,98,867 shares getting traded on Friday. Post opening the session at $23.12, the shares hit an intraday low of $22.55 and an intraday high of $23.12 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Integrated Device Technology Inc reported $0.36 EPS for the quarter, based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus estimate of $0.36. The company had revenue of $192.10 million for the quarter, compared to analysts expectations of $191.11 million. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Integrated Device Technology Inc. Integrated Device Technology Inc was Initiated by ROTH Capital to “Buy” on Sep 29, 2016. JP Morgan Initiated Integrated Device Technology Inc on Aug 18, 2016 to “Overweight”, Price Target of the shares are set at $26.Shares were Reiterated by Dougherty & Company on Aug 2, 2016 to “Buy” and Lowered the Price Target to $ 26 from a previous price target of $28 .

Integrated Device Technology Inc. (IDT) is a developer of mixed-signal semiconductor solutions. The Company offers semiconductors for communications infrastructure in both wired and wireless. It designs develops manufactures and markets a range of semiconductor. It operates in two segments: the Communications segment and the Computing and Consumer segment. Its Communications segment includes clock and timing solutions flow-control management devices including Serial RapidIO switching solutions and radio frequency (RF) products. Its Computing and Consumer segment includes clock generation and distribution products server memory interface products PCI Express switching solutions power management solutions and signal integrity products. It offers communications timing products serial rapidIO solutions RF products consumer and computing timing products memory interface products PCI express switching solutions power management solutions and signal integrity products.

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