Brokerages expect Integrated Device Technology Inc (NASDAQ:IDTI) to post $222.77 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Integrated Device Technology’s earnings. The highest sales estimate is $223.30 million and the lowest is $222.00 million. Integrated Device Technology reported sales of $175.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.8%. The firm is scheduled to announce its next earnings results on Monday, May 7th.
On average, analysts expect that Integrated Device Technology will report full year sales of $222.77 million for the current year, with estimates ranging from $840.20 million to $841.50 million. For the next year, analysts expect that the firm will report sales of $921.25 million per share, with estimates ranging from $910.00 million to $935.24 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Integrated Device Technology.
Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly 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 company had revenue of $217.10 million during the quarter, compared to analyst estimates of $215.32 million. During the same quarter last year, the firm posted $0.35 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis.
A number of analysts recently commented on IDTI shares. Barclays raised Integrated Device Technology from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $28.00 to $33.00 in a research note on Wednesday, January 17th. KeyCorp raised their price objective on Integrated Device Technology from $33.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective (up previously from $36.00) on shares of Integrated Device Technology in a research report on Tuesday, January 30th. Finally, ValuEngine raised Integrated Device Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Integrated Device Technology currently has a consensus rating of “Buy” and an average target price of $33.36.
In other news, SVP Brian C. White sold 8,417 shares of Integrated Device Technology stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $32.50, for a total value of $273,552.50. Following the completion of the transaction, the senior vice president now owns 108,737 shares of the company’s stock, valued at approximately $3,533,952.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory L. Waters sold 15,000 shares of Integrated Device Technology stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $30.18, for a total value of $452,700.00. Following the completion of the transaction, the chief executive officer now directly owns 737,552 shares of the company’s stock, valued at approximately $22,259,319.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,823 shares of company stock valued at $3,647,842. 1.24% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of IDTI. Raymond James Financial Services Advisors Inc. raised its position in shares of Integrated Device Technology by 16.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,516 shares of the semiconductor company’s stock worth $271,000 after purchasing an additional 1,461 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Integrated Device Technology by 15.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after buying an additional 670 shares in the last quarter. Strs Ohio increased its holdings in Integrated Device Technology by 11.7% in the 3rd quarter. Strs Ohio now owns 18,100 shares of the semiconductor company’s stock worth $481,000 after buying an additional 1,900 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Integrated Device Technology by 5.0% in the 3rd quarter. Nationwide Fund Advisors now owns 362,854 shares of the semiconductor company’s stock worth $9,645,000 after buying an additional 17,440 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Integrated Device Technology by 334.0% in the 3rd quarter. First Trust Advisors LP now owns 200,817 shares of the semiconductor company’s stock worth $5,338,000 after buying an additional 154,542 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Integrated Device Technology (NASDAQ:IDTI) traded up $0.41 during mid-day trading on Friday, reaching $31.95. The company had a trading volume of 927,329 shares, compared to its average volume of 1,514,187. Integrated Device Technology has a 12 month low of $22.70 and a 12 month high of $34.13. The stock has a market capitalization of $4,097.17, a price-to-earnings ratio of -1,064.65, a price-to-earnings-growth ratio of 3.01 and a beta of 1.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.62 and a quick ratio of 5.01.
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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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