According to Zacks, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers. “
Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. began coverage on Integrated Device Technology in a research note on Thursday, August 18th. They issued an overweight rating and a $26.00 price target on the stock. Charter Equity lowered Integrated Device Technology from a buy rating to a mkt perform rating in a research note on Tuesday, August 2nd. Brean Capital reaffirmed a buy rating and set a $23.00 target price (down from $26.00) on shares of Integrated Device Technology in a research report on Wednesday, August 3rd. Vetr raised Integrated Device Technology from a buy rating to a strong-buy rating and set a $26.00 target price on the stock in a research report on Wednesday, June 15th. Finally, Wedbush reaffirmed an outperform rating and set a $27.00 target price (down from $28.00) on shares of Integrated Device Technology in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $26.33.
Integrated Device Technology (NASDAQ:IDTI) opened at 22.05 on Wednesday. Integrated Device Technology has a 52-week low of $16.22 and a 52-week high of $29.04. The company has a market capitalization of $2.96 billion, a PE ratio of 17.88 and a beta of 2.02. The firm’s 50-day moving average is $21.23 and its 200-day moving average is $20.98.
Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Integrated Device Technology had a return on equity of 25.27% and a net margin of 24.36%. The firm had revenue of $192.10 million for the quarter, compared to analyst estimates of $191.06 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts forecast that Integrated Device Technology will post $1.41 EPS for the current year.
In related news, VP Mario Montana sold 217,254 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $19.72, for a total value of $4,284,248.88. Following the completion of the sale, the vice president now directly owns 144,260 shares of the company’s stock, valued at approximately $2,844,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.38% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in IDTI. Macquarie Group Ltd. bought a new stake in Integrated Device Technology during the second quarter worth approximately $4,674,000. Mason Street Advisors LLC bought a new stake in Integrated Device Technology during the second quarter worth approximately $1,227,000. Royal Bank of Canada raised its stake in Integrated Device Technology by 76.0% in the second quarter. Royal Bank of Canada now owns 545,601 shares of the company’s stock worth $10,982,000 after buying an additional 235,641 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Integrated Device Technology by 2,620.1% in the second quarter. Public Employees Retirement System of Ohio now owns 96,073 shares of the company’s stock worth $1,934,000 after buying an additional 92,541 shares during the last quarter. Finally, Calvert Investment Management Inc. raised its stake in Integrated Device Technology by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 126,611 shares of the company’s stock worth $2,549,000 after buying an additional 562 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.
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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