Integrated Device Technology, Inc. (NASDAQ:IDTI)‘s stock had its “overweight” rating restated by equities research analysts at Pacific Crest in a research note issued on Wednesday. They presently have a $30.00 price objective on the semiconductor company’s stock. Pacific Crest’s price target indicates a potential upside of 19.76% from the company’s previous close.

A number of other brokerages have also recently issued reports on IDTI. Longbow Research assumed coverage on Integrated Device Technology in a report on Friday, June 9th. They set a “buy” rating and a $31.00 target price for the company. BidaskClub cut Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Needham & Company LLC boosted their target price on Integrated Device Technology from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Zacks Investment Research upgraded Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Integrated Device Technology in a report on Monday, April 17th. They set a “neutral” rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus target price of $26.77.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

Shares of Integrated Device Technology (NASDAQ IDTI) traded up 0.85% on Wednesday, reaching $25.05. 1,315,342 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $24.48 and its 200-day moving average price is $24.37. Integrated Device Technology has a 52 week low of $18.49 and a 52 week high of $26.66. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 31.35 and a beta of 1.93.

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

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In other Integrated Device Technology news, VP Matthew D. Brandalise sold 8,600 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $24.36, for a total value of $209,496.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Sailesh Chittipeddi sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $23.21, for a total value of $65,777.14. Following the completion of the transaction, the senior vice president now directly owns 172,633 shares in the company, valued at $4,006,811.93. The disclosure for this sale can be found here. Insiders have sold a total of 291,850 shares of company stock worth $7,155,023 over the last three months. 1.38% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in IDTI. Vanguard Group Inc. raised its position in shares of Integrated Device Technology by 4.1% in the first quarter. Vanguard Group Inc. now owns 10,548,562 shares of the semiconductor company’s stock worth $249,684,000 after buying an additional 416,108 shares during the last quarter. FMR LLC raised its position in shares of Integrated Device Technology by 9.5% in the first quarter. FMR LLC now owns 6,121,256 shares of the semiconductor company’s stock worth $144,890,000 after buying an additional 532,429 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Integrated Device Technology by 12.7% in the first quarter. Frontier Capital Management Co. LLC now owns 5,078,784 shares of the semiconductor company’s stock worth $120,215,000 after buying an additional 572,713 shares during the last quarter. State Street Corp raised its position in shares of Integrated Device Technology by 3.1% in the first quarter. State Street Corp now owns 4,720,620 shares of the semiconductor company’s stock worth $111,736,000 after buying an additional 142,841 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Integrated Device Technology by 28.8% in the first quarter. Alliancebernstein L.P. now owns 3,093,168 shares of the semiconductor company’s stock worth $73,215,000 after buying an additional 692,356 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors.

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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