Research Analysts Set Expectations for Integrated Device Technology, Inc.’s Q3 2018 Earnings (IDTI)
Integrated Device Technology, Inc. (NASDAQ:IDTI) – Investment analysts at Dougherty & Co issued their Q3 2018 earnings estimates for Integrated Device Technology in a research note issued on Wednesday. Dougherty & Co analyst C. Anderson anticipates that the semiconductor company will post earnings per share of $0.32 for the quarter. Dougherty & Co has a “Buy” rating and a $33.00 price target on the stock. Dougherty & Co also issued estimates for Integrated Device Technology’s Q4 2018 earnings at $0.35 EPS.
Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.65%. The firm had revenue of $204.40 million for the quarter, compared to analyst estimates of $200.99 million. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was up 11.1% compared to the same quarter last year.
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IDTI has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday. Barclays PLC increased their target price on shares of Integrated Device Technology from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and set a $30.00 price target on shares of Integrated Device Technology in a report on Friday, September 1st. Loop Capital reaffirmed a “buy” rating and set a $29.00 price target on shares of Integrated Device Technology in a report on Tuesday, August 22nd. Finally, Bank of America Corporation downgraded 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Integrated Device Technology presently has an average rating of “Buy” and a consensus price target of $31.58.
Shares of Integrated Device Technology (NASDAQ:IDTI) traded up $1.05 during trading hours on Monday, hitting $32.35. 1,255,855 shares of the company’s stock were exchanged, compared to its average volume of 1,452,150. The stock has a market cap of $4,176.83, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.02 and a beta of 1.98. The company has a current ratio of 5.42, a quick ratio of 4.80 and a debt-to-equity ratio of 0.62.
Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC lifted its stake in Integrated Device Technology by 77.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock valued at $124,000 after purchasing an additional 2,090 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Integrated Device Technology by 15.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 670 shares during the last quarter. Advisor Group Inc. lifted its stake in Integrated Device Technology by 13.7% in the 2nd quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Integrated Device Technology by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 525 shares during the last quarter. Finally, Fortaleza Asset Management Inc. bought a new position in Integrated Device Technology in the 2nd quarter valued at approximately $152,000. 96.20% of the stock is owned by institutional investors and hedge funds.
In related news, VP Mario Montana sold 20,374 shares of the stock in a transaction that occurred 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 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 available through the SEC website. 1.24% of the stock is owned by corporate insiders.
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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