Integrated Device Technology Inc (NASDAQ:IDTI) has been assigned an average recommendation of “Buy” from the seventeen research firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $26.31.

IDTI has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Integrated Device Technology in a research report on Wednesday, February 8th. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, March 7th. Loop Capital reaffirmed a “buy” rating and issued a $27.00 target price on shares of Integrated Device Technology in a research report on Tuesday, January 31st. Bank of America Corp downgraded shares of Integrated Device Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, February 16th. Finally, Summit Redstone downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st.

Integrated Device Technology (NASDAQ:IDTI) opened at 25.86 on Friday. The stock’s 50 day moving average is $23.77 and its 200 day moving average is $24.21. The stock has a market capitalization of $3.44 billion, a PE ratio of 32.37 and a beta of 2.11. Integrated Device Technology has a 12-month low of $18.49 and a 12-month high of $26.66.

Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings data on Monday, May 1st. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 21.82% and a return on equity of 23.43%. The company had revenue of $175.70 million during the quarter, compared to the consensus estimate of $175.05 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue was down 7.2% compared to the same quarter last year. Analysts forecast that Integrated Device Technology will post $1.50 EPS for the current year.

In other news, VP Xianzhi Sean Fan sold 84,375 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $24.49, for a total transaction of $2,066,343.75. Following the completion of the sale, the vice president now owns 179,691 shares in the company, valued at approximately $4,400,632.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian C. White sold 19,054 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $24.04, for a total transaction of $458,058.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,868 shares of company stock valued at $3,421,783. 1.38% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Elkfork Partners LLC bought a new stake in Integrated Device Technology during the fourth quarter worth about $103,000. Israel Discount Bank of New York acquired a new stake in shares of Integrated Device Technology during the first quarter valued at $103,000. TrimTabs Asset Management LLC boosted its stake in shares of Integrated Device Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 4,745 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 2,232 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of Integrated Device Technology by 22.2% in the first quarter. Meadow Creek Investment Management LLC now owns 6,776 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 1,232 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of Integrated Device Technology by 22.2% in the first quarter. Glen Harbor Capital Management LLC now owns 8,228 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 1,496 shares during the period. Institutional investors own 93.63% of the company’s stock.

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Integrated Device Technology Company Profile

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.

12 Month Chart for NASDAQ:IDTI

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