A number of research firms have changed their ratings and price targets for Integrated Device Technology (NASDAQ: IDTI):

  • 8/5/2017 – Integrated Device Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/3/2017 – Integrated Device Technology was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers. “
  • 8/1/2017 – Integrated Device Technology was downgraded by analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating. They now have a $27.00 price target on the stock.
  • 8/1/2017 – Integrated Device Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They wrote, “After issuing out quarter revenue guidance that fell short of expectations in five out of the last six quarters, IDTI provided better than expected F2Q18 revenue guidance in addition to reporting strong F1Q18 results. With three product cycles (memory interface, wireless power and sensors) ramping, we forecast revenue growth will accelerate into F2H18. IDT should overcome a flat communications market with growth driven by market share gains and new product launches. Management reiterated confidence in its memory interface market position ahead of the ramp of Intel’s Purley server platform. Other drivers include growth in advanced sensing products, the launch of new mmwave products and the ramp of 100G optical products.””
  • 7/21/2017 – Integrated Device Technology had its “underweight” rating reaffirmed by analysts at Barclays PLC.
  • 7/14/2017 – Integrated Device Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers. “
  • 7/5/2017 – Integrated Device Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers. “
  • 6/28/2017 – Integrated Device Technology had its price target raised by analysts at Susquehanna Bancshares Inc from $30.00 to $33.00. They now have a “positive” rating on the stock.
  • 6/21/2017 – Integrated Device Technology had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $30.00 price target on the stock.
  • 6/16/2017 – Integrated Device Technology had its price target raised by analysts at Needham & Company LLC from $28.00 to $32.00. They now have a “buy” rating on the stock.
  • 6/15/2017 – Integrated Device Technology was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/9/2017 – Integrated Device Technology is now covered by analysts at Longbow Research. They set a “buy” rating and a $31.00 price target on the stock.

Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. The firm had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $195.10 million. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share.

In other news, Director S Kenneth Kannappan purchased 2,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $24.32 per share, with a total value of $48,640.00. Following the completion of the purchase, the director now directly owns 18,637 shares in the company, valued at approximately $453,251.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Sailesh Chittipeddi sold 4,538 shares of Integrated Device Technology stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $24.04, for a total value of $109,093.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,016 shares of company stock valued at $7,089,245. 1.24% of the stock is owned by company insiders.

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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