Integrated Device Technology, Inc. (IDTI) Price Target Increased to $33.00 by Analysts at Dougherty & Co

Integrated Device Technology, Inc. (NASDAQ:IDTI) had its price objective boosted by Dougherty & Co from $30.00 to $33.00 in a research report released on Tuesday. Dougherty & Co currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. Loop Capital reaffirmed a buy rating and set a $29.00 target price on shares of Integrated Device Technology in a report on Tuesday, August 22nd. KeyCorp reaffirmed a buy rating and set a $30.00 target price on shares of Integrated Device Technology in a report on Friday, September 1st. Needham & Company LLC reaffirmed a buy rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Integrated Device Technology from a hold rating to a buy rating and set a $29.00 target price for the company in a report on Wednesday, July 5th. Finally, BidaskClub lowered shares of Integrated Device Technology from a buy rating to a hold rating in a report on Saturday, August 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $30.85.

Integrated Device Technology (NASDAQ:IDTI) traded down 1.00% during trading on Tuesday, reaching $30.76. 1,315,586 shares of the company’s stock traded hands. The company has a 50-day moving average price of $27.50 and a 200 day moving average price of $25.45. Integrated Device Technology has a one year low of $21.80 and a one year high of $32.34. The firm has a market capitalization of $4.10 billion, a PE ratio of 39.95 and a beta of 1.98.

Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.78%. The business had revenue of $204.40 million during the quarter, compared to analyst estimates of $200.99 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Integrated Device Technology will post $1.49 earnings per share for the current fiscal year.

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In related news, 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 value of $497,736.82. Following the completion of the sale, the vice president now owns 67,443 shares of the company’s stock, valued at $1,647,632.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director S Kenneth Kannappan acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $24.32 per share, with a total value of $48,640.00. Following the acquisition, the director now directly owns 18,637 shares of the company’s stock, valued at approximately $453,251.84. The disclosure for this purchase can be found here. Corporate insiders own 1.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC lifted its position in Integrated Device Technology by 1.3% in the third quarter. Frontier Capital Management Co. LLC now owns 5,163,723 shares of the semiconductor company’s stock valued at $137,252,000 after buying an additional 67,002 shares during the last quarter. Bridge City Capital LLC lifted its position in Integrated Device Technology by 8.7% in the third quarter. Bridge City Capital LLC now owns 52,399 shares of the semiconductor company’s stock valued at $1,393,000 after buying an additional 4,190 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Integrated Device Technology by 2.8% in the third quarter. Canada Pension Plan Investment Board now owns 80,400 shares of the semiconductor company’s stock valued at $2,137,000 after buying an additional 2,200 shares during the last quarter. Fortaleza Asset Management Inc. lifted its position in Integrated Device Technology by 50.7% in the third quarter. Fortaleza Asset Management Inc. now owns 8,905 shares of the semiconductor company’s stock valued at $237,000 after buying an additional 2,995 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Integrated Device Technology in the third quarter valued at about $1,475,000. 96.44% of the stock is currently owned by institutional investors.

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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