Equities research analysts expect Integrated Device Technology Inc (NASDAQ:IDTI) to post $236.60 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Integrated Device Technology’s earnings, with the highest sales estimate coming in at $240.30 million and the lowest estimate coming in at $233.67 million. Integrated Device Technology posted sales of $217.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is expected to report its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Integrated Device Technology will report full-year sales of $940.59 million for the current year, with estimates ranging from $933.93 million to $949.10 million. For the next fiscal year, analysts expect that the firm will post sales of $1.01 billion, with estimates ranging from $1.01 billion to $1.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Integrated Device Technology.
Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Integrated Device Technology had a return on equity of 29.69% and a net margin of 2.06%. The company had revenue of $235.48 million during the quarter, compared to analysts’ expectations of $234.07 million.
A number of equities analysts have recently commented on the company. BidaskClub raised Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 22nd. Zacks Investment Research reissued a “sell” rating on shares of Integrated Device Technology in a report on Tuesday, November 13th. Craig Hallum cut Integrated Device Technology from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Wednesday, October 17th. ValuEngine raised Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 19th. Finally, Dougherty & Co cut Integrated Device Technology from a “buy” rating to a “neutral” rating in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $42.91.
Shares of Integrated Device Technology stock traded down $0.12 during trading on Friday, reaching $48.00. 3,214,980 shares of the company’s stock were exchanged, compared to its average volume of 1,989,427. 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 has a 1-year low of $26.96 and a 1-year high of $48.19. The stock has a market capitalization of $6.19 billion, a P/E ratio of 37.80, a price-to-earnings-growth ratio of 3.31 and a beta of 1.74.
In related news, SVP Sailesh Chittipeddi sold 33,300 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.23% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Honkamp Krueger Financial Services Inc. acquired a new position in Integrated Device Technology during the 3rd quarter worth approximately $107,000. Brown Advisory Inc. purchased a new stake in shares of Integrated Device Technology in the third quarter worth approximately $205,000. CIBC Asset Management Inc purchased a new stake in shares of Integrated Device Technology in the third quarter worth approximately $217,000. Oakbrook Investments LLC purchased a new stake in shares of Integrated Device Technology in the third quarter worth approximately $235,000. Finally, Keybank National Association OH purchased a new stake in shares of Integrated Device Technology in the third quarter worth approximately $237,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.
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 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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