Integrated Device Technology (IDTI) Downgraded by BidaskClub

BidaskClub cut shares of Integrated Device Technology (NASDAQ:IDTI) from a strong-buy rating to a buy rating in a report issued on Friday.

A number of other research analysts have also issued reports on IDTI. Craig Hallum increased their target price on shares of Integrated Device Technology from $40.00 to $41.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Needham & Company LLC increased their target price on shares of Integrated Device Technology from $38.00 to $40.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Integrated Device Technology from a hold rating to a buy rating and set a $37.00 target price on the stock in a research report on Friday, July 6th. Susquehanna Bancshares restated a neutral rating and set a $49.00 target price (up previously from $42.00) on shares of Integrated Device Technology in a research report on Tuesday, September 11th. Finally, KeyCorp increased their target price on shares of Integrated Device Technology from $37.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday, July 5th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $42.91.

IDTI traded down $0.17 on Friday, reaching $46.70. The company had a trading volume of 500,279 shares, compared to its average volume of 2,688,855. Integrated Device Technology has a fifty-two week low of $26.96 and a fifty-two week high of $47.45. The firm has a market cap of $6.06 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 3.22 and a beta of 1.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.17 and a current ratio of 4.65.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Integrated Device Technology had a net margin of 2.06% and a return on equity of 29.69%. The business had revenue of $235.48 million for the quarter, compared to analyst estimates of $234.07 million. As a group, equities analysts forecast that Integrated Device Technology will post 1.45 earnings per share for the current year.

In related news, SVP Sailesh Chittipeddi sold 33,300 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 193,095 shares in the company, valued at approximately $9,077,395.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Shepard sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $35.82, for a total transaction of $214,920.00. Following the sale, the vice president now owns 73,569 shares in the company, valued at approximately $2,635,241.58. The disclosure for this sale can be found here. Insiders have sold a total of 62,300 shares of company stock worth $2,760,903 in the last quarter. 1.23% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of IDTI. Parnassus Investments CA bought a new position in Integrated Device Technology in the 2nd quarter valued at approximately $36,021,000. Victory Capital Management Inc. lifted its stake in Integrated Device Technology by 1,258.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,117,920 shares of the semiconductor company’s stock valued at $35,640,000 after purchasing an additional 1,035,630 shares during the last quarter. Hodges Capital Management Inc. lifted its stake in Integrated Device Technology by 4.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,109,054 shares of the semiconductor company’s stock valued at $35,357,000 after purchasing an additional 44,830 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Integrated Device Technology by 4.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,081,750 shares of the semiconductor company’s stock valued at $34,486,000 after purchasing an additional 41,137 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Integrated Device Technology by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 906,584 shares of the semiconductor company’s stock valued at $28,902,000 after purchasing an additional 29,558 shares during the last quarter. Institutional investors and hedge funds own 95.87% 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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Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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