Roth Capital Increases Integrated Device Technology, Inc. (NASDAQ:IDTI) Price Target to $40.00

Integrated Device Technology, Inc. (NASDAQ:IDTI) had its price objective upped by Roth Capital from $35.00 to $40.00 in a research note issued to investors on Wednesday, November 8th. Roth Capital currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts also recently commented on the company. Barclays PLC increased their price target on Integrated Device Technology from $22.00 to $24.00 and gave the company an underweight rating in a report on Wednesday, October 18th. KeyCorp reissued a buy rating and issued a $30.00 price target on shares of Integrated Device Technology in a report on Friday, September 1st. Zacks Investment Research raised Integrated Device Technology from a sell rating to a hold rating in a report on Friday, September 1st. Craig Hallum increased 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, October 31st. Finally, Summit Redstone raised Integrated Device Technology from a hold rating to a buy rating in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Integrated Device Technology has a consensus rating of Buy and an average price target of $32.23.

Shares of Integrated Device Technology (NASDAQ:IDTI) opened at $32.34 on Wednesday. The company has a quick ratio of 4.80, a current ratio of 5.42 and a debt-to-equity ratio of 0.41. Integrated Device Technology has a 12 month low of $21.80 and a 12 month high of $33.92. The stock has a market capitalization of $4,337.06, a PE ratio of 29.68, a PEG ratio of 3.15 and a beta of 1.98.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $204.40 million during 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 company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. analysts expect that Integrated Device Technology will post 1.15 EPS for the current year.

In other news, Director Gordon W. Parnell sold 6,000 shares of Integrated Device Technology stock in a transaction on Monday, November 20th. The stock was sold at an average price of $32.45, for a total transaction of $194,700.00. Following the transaction, the director now directly owns 82,602 shares in the company, valued at approximately $2,680,434.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Xianzhi Sean Fan sold 67,041 shares of the firm’s stock in a transaction on 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 sale, 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. Over the last 90 days, insiders sold 74,069 shares of company stock worth $2,354,373. 1.24% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC boosted its stake in shares of Integrated Device Technology by 1.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 234 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Integrated Device Technology by 5.1% in the second quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock worth $83,871,000 after buying an additional 158,917 shares during the period. Northern Trust Corp boosted its position in shares of Integrated Device Technology by 1.7% in the second quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock worth $58,272,000 after buying an additional 37,579 shares during the period. State Street Corp boosted its position in shares of 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 worth $125,094,000 after buying an additional 129,876 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Integrated Device Technology by 23.6% in the first quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock worth $2,026,000 after buying an additional 16,315 shares during the period. 96.23% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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