Brokerages expect Integrated Device Technology, Inc. (NASDAQ:IDTI) to announce $201.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Integrated Device Technology’s earnings, with the highest sales estimate coming in at $201.32 million and the lowest estimate coming in at $201.00 million. Integrated Device Technology reported sales of $184.06 million in the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The company is expected to issue its next earnings report on Monday, October 30th.

According to Zacks, analysts expect that Integrated Device Technology will report full year sales of $201.16 million for the current financial year, with estimates ranging from $830.00 million to $832.87 million. For the next year, analysts forecast that the business will report sales of $902.45 million per share, with estimates ranging from $899.00 million to $910.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Integrated Device Technology.

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 Thomson Reuters’ consensus estimate of $0.32 by ($0.07). The business had revenue of $196.71 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS.

IDTI has been the subject of a number of recent analyst reports. KeyCorp restated a “buy” rating and issued a $30.00 price objective on shares of Integrated Device Technology in a research report on Friday, September 1st. Loop Capital restated a “buy” rating and issued a $29.00 price objective on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Bank of America Corporation cut shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective for the company. in a research report on Tuesday, August 1st. Finally, Needham & Company LLC restated a “buy” rating on shares of Integrated Device Technology in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.36.

Shares of Integrated Device Technology (IDTI) opened at 27.45 on Thursday. The firm has a market cap of $3.66 billion, a PE ratio of 35.65 and a beta of 1.98. Integrated Device Technology has a 12 month low of $19.38 and a 12 month high of $28.08. The stock has a 50 day moving average price of $26.02 and a 200 day moving average price of $24.95.

In related news, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total value of $497,736.82. Following the completion of the transaction, the vice president now directly owns 67,443 shares of the company’s stock, valued at approximately $1,647,632.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director S Kenneth Kannappan bought 2,000 shares of Integrated Device Technology stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average cost of $24.32 per share, with a total value of $48,640.00. Following the completion of the purchase, the director now owns 18,637 shares in the company, valued at approximately $453,251.84. The disclosure for this purchase can be found here. 1.24% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in IDTI. Public Employees Retirement System of Ohio boosted its stake in shares of Integrated Device Technology by 15.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after buying an additional 670 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Integrated Device Technology by 16.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,516 shares of the semiconductor company’s stock worth $271,000 after buying an additional 1,461 shares during the last quarter. BlueCrest Capital Management Ltd boosted its stake in shares of Integrated Device Technology by 8.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 41,400 shares of the semiconductor company’s stock worth $1,068,000 after buying an additional 3,169 shares during the last quarter. State Street Corp boosted its stake in shares of Integrated Device Technology by 2.8% during the 2nd quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock worth $125,094,000 after buying an additional 129,876 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of Integrated Device Technology during the 2nd quarter worth about $4,926,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Integrated Device Technology (NASDAQ:IDTI)

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