Integrated Device Technology, Inc. (NASDAQ:IDTI) has earned an average recommendation of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.67.

Several brokerages have recently issued reports on IDTI. Barclays PLC reissued an “underweight” rating on shares of Integrated Device Technology in a report on Friday, July 21st. Zacks Investment Research lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Needham & Company LLC reissued a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Bank of America Corporation lowered shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a report on Tuesday, August 1st. Finally, Longbow Research began coverage on shares of Integrated Device Technology in a report on Friday, June 9th. They issued a “buy” rating and a $31.00 price target for the company.

TRADEMARK VIOLATION WARNING: “Integrated Device Technology, Inc. (NASDAQ:IDTI) Receives Average Rating of “Hold” from Analysts” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/08/11/integrated-device-technology-inc-nasdaqidti-receives-average-rating-of-hold-from-analysts.html.

Shares of Integrated Device Technology (NASDAQ IDTI) opened at 23.57 on Friday. Integrated Device Technology has a 1-year low of $18.84 and a 1-year high of $27.09. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 30.61 and a beta of 1.97. The stock’s 50 day moving average price is $25.54 and its 200 day moving average price is $24.64.

Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, July 31st. The semiconductor company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.32 by $0.07. The business had revenue of $196.71 million for the quarter, compared to the consensus estimate of $195.10 million. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts expect that Integrated Device Technology will post $1.49 EPS for the current year.

In other Integrated Device Technology news, Director S Kenneth Kannappan bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $24.32 per share, for a total transaction of $48,640.00. Following the transaction, 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 can be accessed through the SEC website. Also, CEO Gregory L. Waters sold 19,762 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $24.04, for a total transaction of $475,078.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 289,016 shares of company stock worth $7,089,245. Insiders own 1.24% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its stake in shares of Integrated Device Technology by 5.3% in the first quarter. Creative Planning now owns 11,901 shares of the semiconductor company’s stock worth $282,000 after buying an additional 596 shares in the last quarter. Capstone Asset Management Co. increased its position in Integrated Device Technology by 23.7% in the first quarter. Capstone Asset Management Co. now owns 16,321 shares of the semiconductor company’s stock valued at $386,000 after buying an additional 3,126 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Integrated Device Technology by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the semiconductor company’s stock valued at $798,000 after buying an additional 600 shares during the last quarter. Legato Capital Management LLC increased its position in Integrated Device Technology by 3,059.0% in the first quarter. Legato Capital Management LLC now owns 57,589 shares of the semiconductor company’s stock valued at $2,433,000 after buying an additional 55,766 shares during the last quarter. Finally, First Manhattan Co. increased its position in Integrated Device Technology by 1.5% in the first quarter. First Manhattan Co. now owns 13,400 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 95.15% of the company’s stock.

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)

Receive News & Ratings for Integrated Device Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integrated Device Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.