Integrated Device Technology, Inc. (NASDAQ:IDTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. IDT’s market-leading products in RF, real-time interconnect, wireless power, and SmartSensors are among the company’s broad array of complete mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments. Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners throughout the world. IDT stock is traded on the NASDAQ Global Select Stock MarketĀ® under the symbol IDTI. “

A number of other research firms have also weighed in on IDTI. KeyCorp reissued a “buy” rating and set a $33.00 target price on shares of Integrated Device Technology in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Integrated Device Technology in a report on Tuesday. Craig Hallum boosted their target price on Integrated Device Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday. Dougherty & Co boosted their target price on Integrated Device Technology from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Barclays PLC boosted their target price on Integrated Device Technology from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus price target of $31.58.

Integrated Device Technology (IDTI) traded down $0.25 during mid-day trading on Friday, hitting $30.82. The company had a trading volume of 1,337,498 shares, compared to its average volume of 1,449,689. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.98 and a beta of 1.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.29 and a current ratio of 5.42.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $204.40 million for the quarter, compared to analyst estimates of $200.99 million. Integrated Device Technology had a return on equity of 19.65% and a net margin of 13.32%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. sell-side analysts predict that Integrated Device Technology will post 1.15 EPS for the current fiscal year.

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In other Integrated Device Technology news, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $24.43, for a total value of $497,736.82. Following 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.24% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Interstate Bank grew its holdings in shares of Integrated Device Technology by 0.7% during the 2nd quarter. First Interstate Bank now owns 7,097 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 48 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Integrated Device Technology by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 19,844 shares of the semiconductor company’s stock worth $512,000 after purchasing an additional 51 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Integrated Device Technology by 0.3% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 23,071 shares of the semiconductor company’s stock worth $464,000 after purchasing an additional 78 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of Integrated Device Technology by 0.6% during the 2nd quarter. Capstone Asset Management Co. now owns 16,421 shares of the semiconductor company’s stock worth $423,000 after purchasing an additional 100 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Integrated Device Technology by 0.3% during the 4th quarter. US Bancorp DE now owns 45,466 shares of the semiconductor company’s stock worth $1,198,000 after purchasing an additional 114 shares in the last quarter. 96.44% of the stock is currently owned by institutional investors.

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.

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