Shares of Integrated Device Technology Inc. (NASDAQ:IDTI) have been given a consensus recommendation of “Buy” by the fifteen brokerages that are presently covering the company. Two analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.23.

Several equities research analysts have commented on IDTI shares. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Integrated Device Technology in a research report on Friday. Craig Hallum decreased their target price on shares of Integrated Device Technology from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Brean Capital started coverage on shares of Integrated Device Technology in a research report on Monday, May 23rd. They set a “buy” rating and a $26.00 target price on the stock. Vetr upgraded shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Monday, June 6th. Finally, Zacks Investment Research lowered shares of Integrated Device Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 6th.

Shares of Integrated Device Technology (NASDAQ:IDTI) traded down 0.80% during midday trading on Tuesday, hitting $21.04. 624,264 shares of the company were exchanged. Integrated Device Technology has a 52-week low of $16.22 and a 52-week high of $29.04. The company has a 50-day moving average price of $19.99 and a 200-day moving average price of $20.74. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.06 and a beta of 1.99.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/integrated-device-technology-inc-nasdaqidti-receives-consensus-recommendation-of-buy-from-analysts.html

Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, August 1st. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $192.10 million for the quarter, compared to analyst estimates of $191.06 million. Integrated Device Technology had a net margin of 24.36% and a return on equity of 25.27%. The business’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. On average, analysts forecast that Integrated Device Technology will post $1.41 EPS for the current year.

In other Integrated Device Technology news, VP Mario Montana sold 217,254 shares of Integrated Device Technology stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $19.72, for a total value of $4,284,248.88. Following the completion of the sale, the vice president now owns 144,260 shares in the company, valued at approximately $2,844,807.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.38% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of IDTI. Huntington Asset Advisors Inc. acquired a new stake in Integrated Device Technology during the first quarter valued at approximately $102,000. Advisor Group Inc. acquired a new stake in Integrated Device Technology during the second quarter valued at approximately $114,000. First Interstate Bank boosted its stake in Integrated Device Technology by 0.7% in the second quarter. First Interstate Bank now owns 7,097 shares of the company’s stock valued at $143,000 after buying an additional 48 shares during the period. LS Investment Advisors LLC boosted its stake in Integrated Device Technology by 72.7% in the second quarter. LS Investment Advisors LLC now owns 8,151 shares of the company’s stock valued at $164,000 after buying an additional 3,432 shares during the period. Finally, Cantab Capital Partners LLP acquired a new stake in Integrated Device Technology during the second quarter valued at approximately $166,000. Institutional investors own 90.40% of the company’s stock.

About Integrated Device Technology

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.

5 Day Chart for NASDAQ:IDTI

Receive News & Ratings for Integrated Device Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integrated Device Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.