BidaskClub Lowers Integrated Device Technology (IDTI) to Hold

BidaskClub lowered shares of Integrated Device Technology (NASDAQ:IDTI) from a buy rating to a hold rating in a research report report published on Friday.

A number of other brokerages have also recently issued reports on IDTI. Craig Hallum increased their target price on shares of Integrated Device Technology from $30.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Barclays upgraded shares of Integrated Device Technology from an underweight rating to an equal weight rating and increased their target price for the stock from $28.00 to $33.00 in a research report on Wednesday, January 17th. KeyCorp increased their target price on shares of Integrated Device Technology from $33.00 to $37.00 and gave the stock an overweight rating in a research report on Tuesday, January 30th. Needham & Company LLC reiterated a buy rating and set a $38.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded shares of Integrated Device Technology from a sell rating to a hold rating in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $33.38.

Shares of Integrated Device Technology (NASDAQ:IDTI) opened at $28.77 on Friday. The stock has a market cap of $3,821.66, a PE ratio of 25.92, a P/E/G ratio of 2.80 and a beta of 1.96. The company has a current ratio of 5.62, a quick ratio of 5.01 and a debt-to-equity ratio of 0.69. Integrated Device Technology has a 1 year low of $22.70 and a 1 year high of $34.13.

Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $217.10 million during the quarter, compared to analysts’ expectations of $215.32 million. Integrated Device Technology had a negative net margin of 0.33% and a positive return on equity of 20.26%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. analysts expect that Integrated Device Technology will post 1.15 earnings per share for the current fiscal year.

In other Integrated Device Technology news, Director Gordon W. Parnell sold 6,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $32.45, for a total value of $194,700.00. Following the completion of the sale, the director now owns 82,602 shares in the company, valued at approximately $2,680,434.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian C. White sold 23,297 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $34.00, for a total transaction of $792,098.00. Following the completion of the sale, the senior vice president now owns 131,272 shares of the company’s stock, valued at approximately $4,463,248. The disclosure for this sale can be found here. Insiders sold a total of 81,120 shares of company stock valued at $2,614,346 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

Large investors have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of Integrated Device Technology by 1.7% during the 2nd quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock worth $58,272,000 after buying an additional 37,579 shares during the period. State Street Corp grew its position in shares of Integrated Device Technology by 2.8% during the 2nd quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock worth $125,094,000 after buying an additional 129,876 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Integrated Device Technology during the 3rd quarter worth approximately $601,000. Yorktown Management & Research Co Inc acquired a new stake in shares of Integrated Device Technology during the 3rd quarter worth approximately $306,000. Finally, LaSalle Street Capital Management LLC grew its position in shares of Integrated Device Technology by 45.3% during the 3rd quarter. LaSalle Street Capital Management LLC now owns 19,592 shares of the semiconductor company’s stock worth $521,000 after buying an additional 6,104 shares during the period. Institutional investors own 96.22% of the company’s stock.

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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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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