Integrated Device Technology, Inc. (NASDAQ:IDTI) has received a consensus rating of “Buy” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $27.25.

IDTI has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Integrated Device Technology in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Longbow Research initiated coverage on shares of Integrated Device Technology in a report on Friday, June 9th. They set a “buy” rating and a $31.00 target price on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Integrated Device Technology in a report on Monday, April 17th. They set a “neutral” rating and a $24.00 target price on the stock. Finally, Pacific Crest reissued an “overweight” rating and set a $30.00 target price on shares of Integrated Device Technology in a report on Wednesday, June 21st.

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In related news, CEO Gregory L. Waters sold 170,718 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $24.36, for a total value of $4,158,690.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mario Montana sold 25,314 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $25.98, for a total transaction of $657,657.72. Following the completion of the sale, 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 ninety days, insiders sold 289,016 shares of company stock worth $7,089,245. Corporate insiders own 1.38% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IDTI. US Bancorp DE boosted its stake in Integrated Device Technology by 87.6% in the first quarter. US Bancorp DE now owns 72,206 shares of the semiconductor company’s stock worth $1,708,000 after buying an additional 33,718 shares during the period. State Treasurer State of Michigan raised its position in shares of Integrated Device Technology by 0.4% in the first quarter. State Treasurer State of Michigan now owns 54,220 shares of the semiconductor company’s stock worth $1,283,000 after buying an additional 200 shares in the last quarter. Israel Discount Bank of New York bought a new position in shares of Integrated Device Technology during the first quarter worth about $103,000. Swiss National Bank raised its position in shares of Integrated Device Technology by 1.0% in the first quarter. Swiss National Bank now owns 221,000 shares of the semiconductor company’s stock worth $5,231,000 after buying an additional 2,100 shares in the last quarter. Finally, Suffolk Capital Management LLC raised its position in shares of Integrated Device Technology by 76.6% in the first quarter. Suffolk Capital Management LLC now owns 67,661 shares of the semiconductor company’s stock worth $1,602,000 after buying an additional 29,342 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Integrated Device Technology (NASDAQ IDTI) opened at 26.34 on Monday. The stock has a market capitalization of $3.50 billion, a P/E ratio of 32.97 and a beta of 1.98. Integrated Device Technology has a 12 month low of $18.49 and a 12 month high of $26.66. The firm’s 50-day moving average is $24.87 and its 200 day moving average is $24.43.

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

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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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