Integrated Device Technology (IDTI) Stock Rating Upgraded by TheStreet

Integrated Device Technology (NASDAQ:IDTI) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued to clients and investors on Wednesday.

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. KeyCorp raised their target price on shares of Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Cowen began coverage on shares of Integrated Device Technology in a research note on Tuesday. They issued an “outperform” rating and a $37.00 target price on the stock. Craig Hallum reissued a “buy” rating and issued a $40.00 target price (up from $36.00) on shares of Integrated Device Technology in a research note on Tuesday, January 30th. Finally, Bank of America raised shares of Integrated Device Technology from an “underperform” rating to a “neutral” rating and set a $30.00 target price on the stock in a research note on Tuesday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Integrated Device Technology presently has a consensus rating of “Buy” and an average price target of $34.67.

Shares of IDTI opened at $33.04 on Wednesday. The firm has a market cap of $4.27 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.86. Integrated Device Technology has a 12 month low of $23.07 and a 12 month high of $34.13. 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 earnings results on Monday, April 30th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. Integrated Device Technology had a negative net margin of 1.44% and a positive return on equity of 23.10%. The business had revenue of $224.60 million for the quarter, compared to analyst estimates of $222.20 million. During the same period last year, the company posted $0.35 EPS. The business’s revenue was up 27.8% on a year-over-year basis. analysts forecast that Integrated Device Technology will post 1.43 earnings per share for the current year.

In other news, CEO Gregory L. Waters sold 15,000 shares of Integrated Device Technology stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $30.18, for a total transaction of $452,700.00. Following the sale, the chief executive officer now owns 737,552 shares of the company’s stock, valued at approximately $22,259,319.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sailesh Chittipeddi sold 25,000 shares of Integrated Device Technology stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $32.37, for a total transaction of $809,250.00. Following the sale, the senior vice president now directly owns 178,078 shares in the company, valued at approximately $5,764,384.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,845 shares of company stock worth $5,724,912. Corporate insiders own 1.24% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Schroder Investment Management Group increased its holdings in Integrated Device Technology by 19.6% in the 1st quarter. Schroder Investment Management Group now owns 2,733,203 shares of the semiconductor company’s stock valued at $83,527,000 after purchasing an additional 447,536 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Integrated Device Technology by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,486,165 shares of the semiconductor company’s stock valued at $75,977,000 after purchasing an additional 21,864 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in Integrated Device Technology by 1.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 2,022,314 shares of the semiconductor company’s stock valued at $60,123,000 after purchasing an additional 30,489 shares during the last quarter. Trigran Investments Inc. increased its holdings in Integrated Device Technology by 19.5% in the 1st quarter. Trigran Investments Inc. now owns 1,824,673 shares of the semiconductor company’s stock valued at $55,762,000 after purchasing an additional 297,888 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in Integrated Device Technology by 2.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 1,353,283 shares of the semiconductor company’s stock valued at $40,233,000 after purchasing an additional 35,424 shares during the last quarter. Hedge funds and other institutional investors own 96.85% of the company’s stock.

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.

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