Integrated Device Technology, Inc. (NASDAQ:IDTI) had its target price boosted by analysts at Barclays PLC from $24.00 to $28.00 in a note issued to investors on Tuesday. The firm presently has an “underweight” rating on the semiconductor company’s stock. Barclays PLC’s price target suggests a potential downside of 9.88% from the stock’s current price.

IDTI has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Dougherty & Co raised their price target on shares of Integrated Device Technology from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp reaffirmed an “overweight” rating on shares of Integrated Device Technology in a report on Thursday, September 14th. Bank of America Corp downgraded shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a report on Tuesday, August 1st. Finally, Loop Capital raised their price target on shares of Integrated Device Technology from $29.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Integrated Device Technology presently has an average rating of “Buy” and a consensus price target of $30.85.

Shares of Integrated Device Technology (NASDAQ:IDTI) traded up 7.25% during mid-day trading on Tuesday, reaching $31.07. 5,944,850 shares of the company’s stock traded hands. Integrated Device Technology has a 12-month low of $21.72 and a 12-month high of $32.34. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 40.35 and a beta of 1.98. The firm’s 50 day moving average price is $27.35 and its 200-day moving average price is $25.41.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $200.99 million. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. Equities research analysts forecast that Integrated Device Technology will post $1.49 earnings per share for the current year.

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In other news, Director S Kenneth Kannappan bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average price of $24.32 per share, for a total transaction of $48,640.00. Following the purchase, the director now owns 18,637 shares in the company, valued at $453,251.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mario Montana sold 20,374 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $24.43, for a total transaction of $497,736.82. Following the sale, the vice president now owns 67,443 shares in the company, valued at approximately $1,647,632.49. The disclosure for this sale can be found here. Company insiders own 1.24% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC raised its stake in Integrated Device Technology by 77.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock worth $124,000 after acquiring an additional 2,090 shares during the period. Public Employees Retirement System of Ohio raised its stake in 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 acquiring an additional 670 shares during the period. Advisor Group Inc. raised its stake in Integrated Device Technology by 13.7% during the 2nd quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Integrated Device Technology by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock worth $134,000 after acquiring an additional 525 shares during the period. Finally, Fortaleza Asset Management Inc. bought a new stake in Integrated Device Technology during the 2nd quarter worth approximately $152,000. Institutional investors own 96.44% 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)

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