$236.60 Million in Sales Expected for Integrated Device Technology Inc (IDTI) This Quarter

Analysts expect that Integrated Device Technology Inc (NASDAQ:IDTI) will report $236.60 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Integrated Device Technology’s earnings, with the highest sales estimate coming in at $240.30 million and the lowest estimate coming in at $233.67 million. Integrated Device Technology reported sales of $217.08 million in the same quarter last year, which indicates a positive year over year growth rate of 9%. The company is scheduled to announce its next earnings report on Monday, February 4th.

On average, analysts expect that Integrated Device Technology will report full-year sales of $940.59 million for the current financial year, with estimates ranging from $933.93 million to $949.10 million. For the next year, analysts expect that the firm will post sales of $1.01 billion, with estimates ranging from $1.01 billion to $1.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Integrated Device Technology.

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

IDTI has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 19th. Needham & Company LLC lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Tuesday, September 4th. They noted that the move was a valuation call. Cowen lowered shares of Integrated Device Technology from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $41.00 to $49.00 in a research note on Tuesday, September 11th. BidaskClub upgraded shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 8th. Finally, Piper Jaffray Companies lowered shares of Integrated Device Technology from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $49.00 in a research note on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Hold” and a consensus target price of $42.91.

Shares of NASDAQ:IDTI traded up $0.18 during midday trading on Friday, reaching $48.12. The company had a trading volume of 2,350,300 shares, compared to its average volume of 1,913,352. The company has a current ratio of 4.65, a quick ratio of 4.17 and a debt-to-equity ratio of 0.77. The firm has a market cap of $6.19 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 3.29 and a beta of 1.74. Integrated Device Technology has a one year low of $26.96 and a one year high of $48.19.

In other Integrated Device Technology news, SVP Sailesh Chittipeddi sold 33,300 shares of the business’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 completion of the sale, the senior vice president now owns 193,095 shares in the company, valued at $9,077,395.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Waters sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $42.63, for a total transaction of $852,600.00. Following the sale, the chief executive officer now owns 790,370 shares of the company’s stock, valued at approximately $33,693,473.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,300 shares of company stock valued at $2,545,983. 1.23% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Integrated Device Technology by 1.9% during the third quarter. Vanguard Group Inc. now owns 11,954,251 shares of the semiconductor company’s stock valued at $561,970,000 after purchasing an additional 223,814 shares during the last quarter. Krane Funds Advisors LLC increased its stake in Integrated Device Technology by 14.8% during the third quarter. Krane Funds Advisors LLC now owns 10,873 shares of the semiconductor company’s stock valued at $511,000 after purchasing an additional 1,402 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Integrated Device Technology by 2.0% during the third quarter. TIAA CREF Investment Management LLC now owns 386,172 shares of the semiconductor company’s stock valued at $18,154,000 after purchasing an additional 7,565 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in Integrated Device Technology during the third quarter valued at $3,013,000. Finally, Koshinski Asset Management Inc. increased its stake in Integrated Device Technology by 218.2% during the third quarter. Koshinski Asset Management Inc. now owns 31,820 shares of the semiconductor company’s stock valued at $1,496,000 after purchasing an additional 21,820 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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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