Analysts Anticipate Integrated Device Technology Inc (IDTI) to Post $0.46 EPS

Equities analysts expect that Integrated Device Technology Inc (NASDAQ:IDTI) will post earnings per share (EPS) of $0.46 for the current quarter, according to Zacks. Four analysts have made estimates for Integrated Device Technology’s earnings, with estimates ranging from $0.45 to $0.48. Integrated Device Technology posted earnings per share of $0.42 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The firm is scheduled to issue its next earnings results on Monday, February 4th.

On average, analysts expect that Integrated Device Technology will report full-year earnings of $1.85 per share for the current financial year, with EPS estimates ranging from $1.81 to $1.89. For the next year, analysts expect that the business will post earnings of $2.10 per share, with EPS estimates ranging from $2.06 to $2.15. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Integrated Device Technology had a net margin of 2.06% and a return on equity of 29.69%. The firm had revenue of $235.48 million for the quarter, compared to analyst estimates of $234.07 million.

A number of brokerages have recently commented on IDTI. Piper Jaffray Companies reissued a “buy” rating and issued a $37.50 price objective on shares of Integrated Device Technology in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, August 6th. Craig Hallum boosted their price objective on shares of Integrated Device Technology from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Cowen boosted their price objective on shares of Integrated Device Technology from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, July 19th. Finally, Bank of America boosted their price objective on shares of Integrated Device Technology from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $42.91.

In other Integrated Device Technology news, SVP Sailesh Chittipeddi sold 33,300 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $47.01, for a total transaction of $1,565,433.00. Following the sale, the senior vice president now directly owns 193,095 shares of the company’s stock, valued at $9,077,395.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory L. Waters sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $42.63, for a total transaction of $852,600.00. Following the sale, the chief executive officer now directly owns 790,370 shares in the company, valued at $33,693,473.10. The disclosure for this sale can be found here. Insiders have sold 56,300 shares of company stock worth $2,545,983 over the last ninety days. Insiders own 1.23% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of IDTI. Atria Investments LLC bought a new stake in Integrated Device Technology during the second quarter worth $200,000. CIBC Asset Management Inc acquired a new position in shares of Integrated Device Technology in the third quarter valued at $217,000. Oakbrook Investments LLC acquired a new position in shares of Integrated Device Technology in the third quarter valued at $235,000. Keybank National Association OH acquired a new position in shares of Integrated Device Technology in the third quarter valued at $237,000. Finally, Trexquant Investment LP acquired a new position in shares of Integrated Device Technology in the second quarter valued at $295,000. 95.87% of the stock is currently owned by hedge funds and other institutional investors.

IDTI traded down $0.15 during trading on Monday, reaching $46.75. The company had a trading volume of 1,486,258 shares, compared to its average volume of 2,470,151. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.17 and a current ratio of 4.65. Integrated Device Technology has a 12 month low of $26.96 and a 12 month high of $47.45. The firm has a market cap of $6.05 billion, a P/E ratio of 36.81, a PEG ratio of 3.23 and a beta of 1.69.

Integrated Device Technology Company Profile

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.

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