$0.41 EPS Expected for Integrated Device Technology Inc (IDTI) This Quarter

Analysts expect Integrated Device Technology Inc (NASDAQ:IDTI) to report earnings of $0.41 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Integrated Device Technology’s earnings, with estimates ranging from $0.41 to $0.42. Integrated Device Technology reported earnings of $0.35 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The firm is scheduled to report its next earnings report on Monday, January 29th.

According to Zacks, analysts expect that Integrated Device Technology will report full year earnings of $1.53 per share for the current year, with EPS estimates ranging from $1.51 to $1.54. For the next financial year, analysts anticipate that the company will post earnings of $1.82 per share, with EPS estimates ranging from $1.72 to $1.95. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company 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 for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS.

A number of brokerages have weighed in on IDTI. ValuEngine upgraded Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Roth Capital raised their price objective on Integrated Device Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. KeyCorp restated a “buy” rating and issued a $33.00 price objective on shares of Integrated Device Technology in a report on Wednesday, November 1st. Zacks Investment Research lowered Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Bank of America raised their price objective on Integrated Device Technology from $27.00 to $30.00 and gave the company an “underperform” rating in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.23.

In other news, VP Chris Allexandre sold 1,028 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $32.23, for a total transaction of $33,132.44. Following the completion of the transaction, the vice president now directly owns 49,936 shares of the company’s stock, valued at $1,609,437.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Xianzhi Sean Fan sold 67,041 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $31.72, for a total value of $2,126,540.52. Following the transaction, the insider now directly owns 138,993 shares of the company’s stock, valued at $4,408,857.96. The disclosure for this sale can be found here. Insiders have sold a total of 105,264 shares of company stock valued at $3,310,127 over the last three months. Corporate insiders own 1.24% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its stake in Integrated Device Technology by 5.1% during the second quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock worth $83,871,000 after purchasing an additional 158,917 shares during the last quarter. Northern Trust Corp lifted its stake in Integrated Device Technology by 1.7% during the second quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock worth $58,272,000 after purchasing an additional 37,579 shares during the last quarter. State Street Corp lifted its stake in Integrated Device Technology by 2.8% in the second quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock valued at $125,094,000 after buying an additional 129,876 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new stake in Integrated Device Technology in the third quarter valued at approximately $306,000. Finally, LaSalle Street Capital Management LLC lifted its stake in Integrated Device Technology by 45.3% in the third quarter. LaSalle Street Capital Management LLC now owns 19,592 shares of the semiconductor company’s stock valued at $521,000 after buying an additional 6,104 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Integrated Device Technology (NASDAQ:IDTI) opened at $32.32 on Wednesday. The company has a quick ratio of 4.80, a current ratio of 5.42 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $4,310.00, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.97. Integrated Device Technology has a fifty-two week low of $22.70 and a fifty-two week high of $33.92.

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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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