BidaskClub Lowers Integrated Device Technology (IDTI) to Hold

BidaskClub cut shares of Integrated Device Technology (NASDAQ:IDTI) from a buy rating to a hold rating in a research note released on Tuesday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Integrated Device Technology from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Saturday, June 9th. ValuEngine downgraded Integrated Device Technology from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Cowen set a $37.00 price objective on Integrated Device Technology and gave the company a buy rating in a research note on Tuesday, June 12th. JPMorgan Chase & Co. reduced their price objective on Integrated Device Technology from $38.00 to $37.00 and set an overweight rating for the company in a research note on Tuesday, May 1st. Finally, Bank of America upgraded Integrated Device Technology from an underperform rating to a neutral rating and set a $30.00 price objective for the company in a research note on Tuesday, May 1st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Integrated Device Technology currently has an average rating of Buy and an average price target of $36.00.

Integrated Device Technology opened at $31.78 on Tuesday, according to Marketbeat. The firm has a market capitalization of $4.09 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.04 and a beta of 1.86. Integrated Device Technology has a 12 month low of $23.07 and a 12 month high of $35.40. The company has a quick ratio of 4.23, a current ratio of 4.83 and a debt-to-equity ratio of 0.76.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, April 30th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $224.60 million during the quarter, compared to analyst estimates of $222.20 million. Integrated Device Technology had a positive return on equity of 23.10% and a negative net margin of 1.44%. Integrated Device Technology’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. equities analysts expect that Integrated Device Technology will post 1.43 EPS for the current year.

In other news, CEO Gregory L. Waters sold 16,587 shares of the stock in a transaction on Monday, June 18th. The stock was sold at an average price of $34.71, for a total transaction of $575,734.77. Following the completion of the transaction, the chief executive officer now owns 769,911 shares in the company, valued at approximately $26,723,610.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory L. Waters sold 15,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $30.22, for a total value of $453,300.00. Following the transaction, the chief executive officer now owns 732,552 shares of the company’s stock, valued at approximately $22,137,721.44. The disclosure for this sale can be found here. Insiders sold a total of 175,670 shares of company stock valued at $5,577,298 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

Several hedge funds have recently bought and sold shares of IDTI. Obermeyer Wood Investment Counsel Lllp bought a new position in shares of Integrated Device Technology during the 1st quarter worth $33,274,000. Summit Trail Advisors LLC grew its stake in shares of Integrated Device Technology by 2,625.6% during the 1st quarter. Summit Trail Advisors LLC now owns 918,017 shares of the semiconductor company’s stock worth $918,000 after acquiring an additional 884,336 shares during the period. Garelick Capital Partners LP bought a new position in shares of Integrated Device Technology during the 4th quarter worth $20,343,000. Cavalry Management Group LLC grew its stake in shares of Integrated Device Technology by 159.2% during the 1st quarter. Cavalry Management Group LLC now owns 869,948 shares of the semiconductor company’s stock worth $26,586,000 after acquiring an additional 534,341 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Integrated Device Technology by 19.6% during the 1st quarter. Schroder Investment Management Group now owns 2,733,203 shares of the semiconductor company’s stock worth $83,527,000 after acquiring an additional 447,536 shares during the period. Institutional investors own 98.97% 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 Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

Receive News & Ratings for Integrated Device Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integrated Device Technology and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply