Wall Street brokerages predict that Integrated Device Technology Inc (NASDAQ:IDTI) will post sales of $222.77 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Integrated Device Technology’s earnings, with the highest sales estimate coming in at $223.30 million and the lowest estimate coming in at $222.00 million. Integrated Device Technology posted sales of $175.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 26.8%. The business is scheduled to announce its next quarterly earnings report after the market closes on Monday, April 30th.
According to Zacks, analysts expect that Integrated Device Technology will report full-year sales of $222.77 million for the current year, with estimates ranging from $840.20 million to $841.50 million. For the next year, analysts expect that the firm will report sales of $921.25 million per share, with estimates ranging from $910.00 million to $935.24 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Integrated Device Technology.
Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $217.10 million during the quarter, compared to analyst estimates of $215.32 million. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS.
A number of equities analysts recently issued reports on IDTI shares. Barclays upgraded Integrated Device Technology from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $28.00 to $33.00 in a research note on Wednesday, January 17th. KeyCorp increased their price target on Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. Finally, BidaskClub downgraded Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.36.
IDTI stock traded up $0.90 during midday trading on Friday, reaching $30.84. The stock had a trading volume of 585,013 shares, compared to its average volume of 1,336,710. The firm has a market capitalization of $3,917.19, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.83. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.62 and a quick ratio of 5.01. Integrated Device Technology has a 52-week low of $22.70 and a 52-week high of $34.13.
In other news, CEO Gregory L. Waters sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $28.33, for a total transaction of $283,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value of $792,098.00. Following the sale, the senior vice president now owns 131,272 shares in the company, valued at $4,463,248. The disclosure for this sale can be found here. Insiders have sold a total of 150,349 shares of company stock worth $4,747,248 over the last ninety days. 1.24% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. lifted its stake in Integrated Device Technology by 285.7% in the 4th quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 5,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Integrated Device Technology by 47.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 2,441 shares in the last quarter. Systematic Financial Management LP purchased a new position in Integrated Device Technology in the 4th quarter valued at about $296,000. Engineers Gate Manager LP purchased a new position in Integrated Device Technology in the 4th quarter valued at about $360,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Integrated Device Technology in the 4th quarter valued at about $363,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.
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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.
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