Integrated Device Technology (NASDAQ:IDTI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
IDTI has been the subject of a number of other research reports. Zacks Investment Research cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Piper Jaffray Companies assumed coverage on shares of Integrated Device Technology in a report on Monday. They set an “overweight” rating and a $33.00 price target for the company. Roth Capital lifted their price target on shares of Integrated Device Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Barclays upgraded shares of Integrated Device Technology from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $28.00 to $33.00 in a report on Wednesday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus target price of $33.36.
Integrated Device Technology (IDTI) opened at $30.34 on Thursday. The company has a current ratio of 5.62, a quick ratio of 5.01 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4,020.00, a PE ratio of 41.56, a price-to-earnings-growth ratio of 2.99 and a beta of 1.96. Integrated Device Technology has a 52-week low of $22.70 and a 52-week high of $34.13.
In related news, SVP Brian C. White sold 8,417 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $32.50, for a total value of $273,552.50. Following the completion of the sale, the senior vice president now directly owns 108,737 shares in the company, valued at $3,533,952.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory L. Waters sold 11,703 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.24, for a total transaction of $342,195.72. Following the completion of the sale, the chief executive officer now owns 722,552 shares of the company’s stock, valued at $21,127,420.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,823 shares of company stock valued at $3,195,142. Insiders own 1.24% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB purchased a new stake in Integrated Device Technology in the fourth quarter valued at approximately $363,000. Segall Bryant & Hamill LLC grew its holdings in Integrated Device Technology by 1.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,022,314 shares of the semiconductor company’s stock valued at $60,123,000 after purchasing an additional 30,489 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Integrated Device Technology in the fourth quarter valued at approximately $4,311,000. Castleark Management LLC grew its holdings in Integrated Device Technology by 38.4% in the fourth quarter. Castleark Management LLC now owns 540,375 shares of the semiconductor company’s stock valued at $16,065,000 after purchasing an additional 149,835 shares during the period. Finally, Millennium Management LLC grew its holdings in Integrated Device Technology by 1,016.9% in the fourth quarter. Millennium Management LLC now owns 372,900 shares of the semiconductor company’s stock valued at $11,086,000 after purchasing an additional 339,512 shares during the period. Hedge funds and other institutional investors own 96.17% of the company’s stock.
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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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