Shares of Integrated Device Technology (NASDAQ:IDTI) have been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $35.83.
IDTI has been the subject of several recent analyst reports. Zacks Investment Research raised Integrated Device Technology from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Friday, May 4th. BidaskClub lowered Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 10th. JPMorgan Chase & Co. cut their price objective on Integrated Device Technology from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, May 1st. Bank of America raised Integrated Device Technology from an “underperform” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Tuesday, May 1st. Finally, Cowen initiated coverage on Integrated Device Technology in a report on Tuesday, May 22nd. They set an “outperform” rating and a $37.00 price objective for the company.
In related news, VP Mario Montana sold 7,918 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $30.80, for a total value of $243,874.40. Following the completion of the sale, the vice president now owns 72,834 shares in the company, valued at approximately $2,243,287.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory L. Waters sold 11,587 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $34.59, for a total value of $400,794.33. Following the completion of the sale, the chief executive officer now owns 769,911 shares of the company’s stock, valued at approximately $26,631,221.49. The disclosure for this sale can be found here. Insiders sold a total of 160,670 shares of company stock valued at $5,123,998 in the last 90 days. 1.24% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in IDTI. Obermeyer Wood Investment Counsel Lllp bought a new stake in Integrated Device Technology in the 1st quarter worth approximately $33,274,000. Summit Trail Advisors LLC lifted its position in Integrated Device Technology by 2,625.6% in the first quarter. Summit Trail Advisors LLC now owns 918,017 shares of the semiconductor company’s stock valued at $918,000 after purchasing an additional 884,336 shares during the last quarter. Cavalry Management Group LLC lifted its position in Integrated Device Technology by 159.2% in the first quarter. Cavalry Management Group LLC now owns 869,948 shares of the semiconductor company’s stock valued at $26,586,000 after purchasing an additional 534,341 shares during the last quarter. Schroder Investment Management Group lifted its position in Integrated Device Technology by 19.6% in the first 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. Finally, Deutsche Bank AG lifted its position in Integrated Device Technology by 243.0% in the fourth quarter. Deutsche Bank AG now owns 507,498 shares of the semiconductor company’s stock valued at $15,086,000 after purchasing an additional 359,541 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.
Integrated Device Technology opened at $31.88 on Monday, Marketbeat Ratings reports. The company has a quick ratio of 4.23, a current ratio of 4.83 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.06 and a beta of 1.84. Integrated Device Technology has a twelve month low of $23.07 and a twelve month high of $35.40.
Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, April 30th. The semiconductor company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Integrated Device Technology had a positive return on equity of 23.10% and a negative net margin of 1.44%. The company had revenue of $224.60 million during the quarter, compared to analyst estimates of $222.20 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Integrated Device Technology’s revenue was up 27.8% on a year-over-year basis. sell-side analysts expect that Integrated Device Technology will post 1.43 EPS for the current fiscal year.
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.
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