Integrated Device Technology (IDTI) Rating Increased to Buy at ValuEngine

Integrated Device Technology (NASDAQ:IDTI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, November 10th.

IDTI has been the subject of several other reports. Zacks Investment Research lowered shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Dougherty & Co lifted their price target on shares of Integrated Device Technology from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Barclays boosted their target price on shares of Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Roth Capital boosted their target price on shares of Integrated Device Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, KeyCorp reissued a “buy” rating and set a $33.00 target price on shares of Integrated Device Technology in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.23.

Integrated Device Technology (NASDAQ:IDTI) traded down $1.93 during midday trading on Friday, hitting $30.08. 2,721,900 shares of the stock traded hands, compared to its average volume of 1,581,202. Integrated Device Technology has a 1-year low of $21.80 and a 1-year high of $33.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.42 and a quick ratio of 4.80. The firm has a market cap of $4,270.00, a price-to-earnings ratio of 29.68, a PEG ratio of 3.15 and a beta of 1.98.

Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $204.40 million during the quarter, compared to analyst estimates of $200.99 million. During the same period in the previous year, the business posted $0.34 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. equities research analysts expect that Integrated Device Technology will post 1.15 earnings per share for the current year.

In other Integrated Device Technology news, insider Xianzhi Sean Fan sold 67,041 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $31.72, for a total transaction of $2,126,540.52. Following the sale, the insider now directly owns 138,993 shares in the company, valued at approximately $4,408,857.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon W. Parnell sold 6,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $32.45, for a total transaction of $194,700.00. Following the sale, the director now owns 82,602 shares in the company, valued at $2,680,434.90. The disclosure for this sale can be found here. Insiders have sold a total of 74,069 shares of company stock worth $2,354,373 over the last 90 days. 1.24% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its holdings in shares of Integrated Device Technology by 4.1% in the 3rd quarter. California Public Employees Retirement System now owns 343,063 shares of the semiconductor company’s stock worth $9,119,000 after purchasing an additional 13,563 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Integrated Device Technology in the 3rd quarter worth approximately $601,000. Segall Bryant & Hamill LLC raised its holdings in shares of Integrated Device Technology by 5.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,991,825 shares of the semiconductor company’s stock worth $52,943,000 after purchasing an additional 103,602 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Integrated Device Technology by 53.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 27,327 shares of the semiconductor company’s stock worth $725,000 after purchasing an additional 9,515 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Integrated Device Technology by 36.7% in the 3rd quarter. Stifel Financial Corp now owns 552,300 shares of the semiconductor company’s stock worth $14,684,000 after purchasing an additional 148,386 shares in the last quarter. Institutional investors own 96.23% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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