Integrated Device Technology Sets New 52-Week High at $13.29 (IDTI)
Shares of Integrated Device Technology (NASDAQ:IDTI) hit a new 52-week high during mid-day trading on Wednesday , AnalystRatings.Net reports. The stock traded as high as $13.29 and last traded at $13.13, with a volume of 1,890,693 shares trading hands. The stock had previously closed at $13.03.
A number of analysts have recently weighed in on IDTI shares. Analysts at Ned Davis Research upgraded shares of Integrated Device Technology from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. Separately, analysts at Craig Hallum raised their price target on shares of Integrated Device Technology from $12.00 to $15.00 in a research note on Tuesday, May 6th. Finally, analysts at Citigroup Inc. raised their price target on shares of Integrated Device Technology from $13.00 to $15.00 in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.86.
The stock’s 50-day moving average is $11.96 and its 200-day moving average is $11.16. The company has a market cap of $1.968 billion and a price-to-earnings ratio of 22.47.
Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.01. The company had revenue of $118.60 million for the quarter, compared to the consensus estimate of $117.07 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Integrated Device Technology will post $0.68 earnings per share for the current fiscal year.
Integrated Device Technology, Inc (NASDAQ:IDTI) designs, develops, manufactures and markets a broad range of low-power mixed signal semiconductor solutions for the advanced communications, computing and consumer industries.
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