Integrated Device Technology Inc. (NASDAQ:IDTI) Receives Consensus Recommendation of “Buy” from Analysts
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.
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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.
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