Integrated Device Technology, Inc. (IDTI) Releases Quarterly Earnings Results

Integrated Device Technology, Inc. (NASDAQ:IDTI) posted its earnings results on Monday. The semiconductor company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01, RTT News reports. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The firm had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $200.99 million. During the same quarter last year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year.

Integrated Device Technology (NASDAQ:IDTI) traded up 1.40% on Monday, reaching $28.97. 1,593,030 shares of the company were exchanged. The firm has a market capitalization of $3.87 billion, a P/E ratio of 37.62 and a beta of 1.98. Integrated Device Technology has a 12-month low of $20.50 and a 12-month high of $29.06. The firm has a 50-day moving average of $27.23 and a 200 day moving average of $25.34.

A number of research firms recently commented on IDTI. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Barclays PLC lifted their price target on shares of Integrated Device Technology from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $30.00 price target on shares of Integrated Device Technology in a report on Tuesday, October 17th. Needham & Company LLC reaffirmed a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Finally, Bank of America Corporation cut shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.55.

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In other Integrated Device Technology news, Director S Kenneth Kannappan purchased 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average cost of $24.32 per share, for a total transaction of $48,640.00. Following the completion of the transaction, the director now owns 18,637 shares of the company’s stock, valued at $453,251.84. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mario Montana sold 20,374 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was 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 owned by corporate 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.

Earnings History for Integrated Device Technology (NASDAQ:IDTI)

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