Wall Street brokerages forecast that Integrated Device Technology (NASDAQ:IDTI) will post $227.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Integrated Device Technology’s earnings, with estimates ranging from $227.00 million to $227.30 million. Integrated Device Technology reported sales of $196.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The company is expected to issue its next earnings report on Monday, July 30th.
On average, analysts expect that Integrated Device Technology will report full-year sales of $921.75 million for the current financial year, with estimates ranging from $920.00 million to $923.90 million. For the next year, analysts expect that the firm will report sales of $987.71 million per share, with estimates ranging from $980.00 million to $996.44 million. Zacks’ sales averages are an average based on a survey of research firms that follow Integrated Device Technology.
Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, April 30th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business had revenue of $224.60 million during the quarter, compared to the consensus estimate of $222.20 million. Integrated Device Technology had a positive return on equity of 23.10% and a negative net margin of 1.44%. The business’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share.
Several equities research analysts recently commented on the company. BidaskClub raised Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. KeyCorp boosted their target price on Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Craig Hallum reissued a “buy” rating and set a $40.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Finally, Barclays raised Integrated Device Technology from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $28.00 to $33.00 in a report on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $34.50.
In other Integrated Device Technology news, CEO Gregory L. Waters sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $28.43, for a total value of $284,300.00. Following the transaction, the chief executive officer now owns 732,552 shares of the company’s stock, valued at $20,826,453.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Chris Allexandre sold 2,721 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $32.08, for a total value of $87,289.68. Following the completion of the transaction, the vice president now directly owns 47,215 shares in the company, valued at approximately $1,514,657.20. The disclosure for this sale can be found here. Insiders sold 110,335 shares of company stock worth $3,407,747 in the last ninety days. 1.24% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. raised its stake in Integrated Device Technology by 285.7% during the 4th quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 5,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Integrated Device Technology by 47.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 2,441 shares during the period. First Dallas Securities Inc. acquired a new stake in Integrated Device Technology during the 1st quarter valued at $238,000. Zeke Capital Advisors LLC acquired a new stake in Integrated Device Technology during the 1st quarter valued at $241,000. Finally, Teza Capital Management LLC acquired a new stake in Integrated Device Technology during the 1st quarter valued at $288,000. 97.80% of the stock is currently owned by institutional investors.
Shares of NASDAQ IDTI traded up $0.54 during midday trading on Friday, hitting $30.89. 29,249 shares of the company’s stock were exchanged, compared to its average volume of 1,335,244. The company has a current ratio of 4.83, a quick ratio of 4.23 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.02 billion, a PE ratio of 24.52, a P/E/G ratio of 1.96 and a beta of 1.86. Integrated Device Technology has a twelve month low of $30.72 and a twelve month high of $31.20.
About Integrated Device Technology
Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.
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