Insider Selling: Xianzhi Sean Fan Sells 2,436 Shares of Integrated Device Technology Stock (IDTI)
Integrated Device Technology (NASDAQ:IDTI) VP Xianzhi Sean Fan sold 2,436 shares of Integrated Device Technology stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $14.59, for a total value of $35,541.24. Following the completion of the sale, the vice president now directly owns 19,614 shares in the company, valued at approximately $286,168. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on IDTI. 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’s stock. Integrated Device Technology presently has a consensus rating of “Hold” and a consensus target price of $12.86.
Shares of Integrated Device Technology (NASDAQ:IDTI) traded up 1.06% during mid-day trading on Tuesday, hitting $14.755. The stock had a trading volume of 3,165,685 shares. Integrated Device Technology has a one year low of $7.69 and a one year high of $14.98. The stock has a 50-day moving average of $12.92 and a 200-day moving average of $11.59. The company has a market cap of $2.203 billion and a P/E ratio of 25.17.
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. Analysts expect that Integrated Device Technology will post $0.68 EPS 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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