Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) have earned an average rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $28.11.

A number of brokerages recently commented on IDTI. Barclays PLC boosted their price objective on shares of Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. KeyCorp reissued a “buy” rating and issued a $30.00 target price on shares of Integrated Device Technology in a research report on Tuesday, October 17th. Loop Capital reissued a “buy” rating and issued a $29.00 target price on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th.

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In other Integrated Device Technology news, VP Mario Montana sold 20,374 shares of the business’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 sale, the vice president now owns 67,443 shares of the company’s stock, valued at approximately $1,647,632.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director S Kenneth Kannappan purchased 2,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $24.32 per share, for a total transaction of $48,640.00. Following the acquisition, the director now directly owns 18,637 shares in the company, valued at $453,251.84. The disclosure for this purchase can be found here. 1.24% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Greenwood Capital Associates LLC increased its holdings in Integrated Device Technology by 1.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 234 shares during the period. Alliancebernstein L.P. increased its holdings in Integrated Device Technology by 5.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after buying an additional 158,917 shares during the period. Northern Trust Corp increased its holdings in Integrated Device Technology by 1.7% in the 2nd quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock valued at $58,272,000 after buying an additional 37,579 shares during the period. Legal & General Group Plc increased its holdings in Integrated Device Technology by 23.6% in the 1st quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock valued at $2,026,000 after buying an additional 16,315 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Integrated Device Technology by 5.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,207 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 500 shares during the period. 96.36% of the stock is currently owned by hedge funds and other institutional investors.

Integrated Device Technology (NASDAQ IDTI) opened at 28.54 on Wednesday. Integrated Device Technology has a 1-year low of $19.95 and a 1-year high of $28.74. The stock has a market cap of $3.81 billion, a P/E ratio of 37.06 and a beta of 1.98. The firm’s 50-day moving average is $26.95 and its 200-day moving average is $25.26.

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

About Integrated Device Technology

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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