BidaskClub upgraded shares of Integrated Device Technology (NASDAQ:IDTI) from a buy rating to a strong-buy rating in a research report report published on Monday morning.
A number of other analysts also recently commented on the company. Zacks Investment Research downgraded Integrated Device Technology from a hold rating to a strong sell rating in a research note on Friday, February 2nd. Barclays upgraded Integrated Device Technology from an underweight rating to an equal weight rating and upped their target price for the stock from $28.00 to $33.00 in a research note on Wednesday, January 17th. KeyCorp upped their target price on Integrated Device Technology from $33.00 to $37.00 and gave the stock an overweight rating in a research note on Tuesday, January 30th. Needham & Company LLC restated a buy rating and issued a $38.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a research note on Tuesday, January 30th. Finally, Craig Hallum restated a buy rating and issued a $40.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $34.08.
Shares of IDTI opened at $29.84 on Monday. Integrated Device Technology has a 52 week low of $22.70 and a 52 week high of $34.13. The company has a current ratio of 5.62, a quick ratio of 5.01 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $4,237.45, a PE ratio of 26.18, a P/E/G ratio of 2.40 and a beta of 1.83.
Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, January 29th. The semiconductor company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The firm had revenue of $217.10 million for the quarter, compared to the consensus estimate of $215.32 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s revenue was up 23.1% compared to the same quarter last year. research analysts predict that Integrated Device Technology will post 1.15 EPS for the current fiscal year.
In other Integrated Device Technology news, VP Mario Montana sold 22,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $32.06, for a total transaction of $705,320.00. Following the completion of the transaction, the vice president now owns 74,705 shares of the company’s stock, valued at $2,395,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Sailesh Chittipeddi sold 3,911 shares of the stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $31.55, for a total value of $123,392.05. The disclosure for this sale can be found here. Insiders sold a total of 138,677 shares of company stock valued at $4,356,401 in the last ninety days. 1.24% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Integrated Device Technology during the third quarter valued at approximately $601,000. Koch Industries Inc. acquired a new position in shares of Integrated Device Technology during the fourth quarter valued at approximately $386,000. OxFORD Asset Management LLP acquired a new position in shares of Integrated Device Technology during the third quarter valued at approximately $561,000. New Mexico Educational Retirement Board acquired a new position in shares of Integrated Device Technology during the fourth quarter valued at approximately $981,000. Finally, Copper Rock Capital Partners LLC raised its holdings in shares of Integrated Device Technology by 3.6% during the fourth quarter. Copper Rock Capital Partners LLC now owns 1,052,138 shares of the semiconductor company’s stock valued at $31,722,000 after acquiring an additional 36,514 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.
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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.
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