Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) have been assigned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $27.00.

A number of equities research analysts recently issued reports on IDTI shares. Zacks Investment Research upgraded Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, March 7th. Goldman Sachs Group, Inc. (The) started coverage on Integrated Device Technology in a research report on Monday, April 17th. They issued a “neutral” rating and a $24.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Integrated Device Technology in a research report on Tuesday, April 18th. Longbow Research started coverage on Integrated Device Technology in a research report on Friday, June 9th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, BidaskClub downgraded Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th.

Shares of Integrated Device Technology (IDTI) opened at 25.51 on Tuesday. The company’s 50-day moving average price is $24.47 and its 200 day moving average price is $24.35. Integrated Device Technology has a 12-month low of $18.49 and a 12-month high of $26.66. The firm has a market capitalization of $3.39 billion, a PE ratio of 31.93 and a beta of 1.93.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, May 1st. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $175.70 million for the quarter, compared to the consensus estimate of $175.05 million. Integrated Device Technology had a return on equity of 21.80% and a net margin of 15.17%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, equities analysts forecast that Integrated Device Technology will post $1.50 earnings per share for the current year.

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In related news, VP Matthew D. Brandalise sold 14,876 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $25.91, for a total value of $385,437.16. Following the transaction, the vice president now owns 91,260 shares of the company’s stock, valued at $2,364,546.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mario Montana sold 25,314 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $25.98, for a total value of $657,657.72. Following the completion of the transaction, the vice president now directly owns 120,087 shares in the company, valued at approximately $3,119,860.26. The disclosure for this sale can be found here. In the last three months, insiders sold 291,850 shares of company stock worth $7,155,023. 1.38% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDTI. Israel Discount Bank of New York bought a new position in shares of Integrated Device Technology during the first quarter worth about $103,000. Elkfork Partners LLC bought a new position in shares of Integrated Device Technology during the fourth quarter worth about $103,000. TrimTabs Asset Management LLC boosted its position 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 worth $112,000 after buying an additional 2,232 shares during the period. Meadow Creek Investment Management LLC boosted its position 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 worth $160,000 after buying an additional 1,232 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its position 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 worth $195,000 after buying an additional 1,496 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.

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