IDTI has been the topic of several other reports. 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 report on Monday, June 6th. Barclays PLC reduced their target price on Integrated Device Technology from $21.00 to $19.00 and set an underweight rating on the stock in a report on Tuesday, August 2nd. Needham & Company LLC reissued a buy rating and issued a $25.00 target price on shares of Integrated Device Technology in a report on Friday, September 16th. Craig Hallum reduced their target price on Integrated Device Technology from $27.00 to $25.00 and set a buy rating on the stock in a report on Tuesday, August 2nd. Finally, Dougherty & Co reduced their price objective on Integrated Device Technology from $28.00 to $26.00 and set a buy rating on the stock in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $26.33.
Integrated Device Technology (NASDAQ:IDTI) opened at 22.90 on Wednesday. The firm has a market capitalization of $3.08 billion, a PE ratio of 18.57 and a beta of 2.02. Integrated Device Technology has a 12 month low of $16.22 and a 12 month high of $29.04. The stock’s 50 day moving average price is $20.79 and its 200 day moving average price is $20.88.
Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, August 1st. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $192.10 million for the quarter, compared to the consensus estimate of $191.06 million. Integrated Device Technology had a return on equity of 25.27% and a net margin of 24.36%. Integrated Device Technology’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. Equities research analysts expect that Integrated Device Technology will post $1.41 earnings per share for the current fiscal year.
In other 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 transaction, the vice president now owns 144,260 shares of the company’s stock, valued at approximately $2,844,807.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.38% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rafferty Asset Management LLC purchased a new stake in Integrated Device Technology during the first quarter worth approximately $248,000. State Street Corp boosted its stake in Integrated Device Technology by 0.5% in the first quarter. State Street Corp now owns 4,765,667 shares of the company’s stock worth $97,406,000 after buying an additional 22,954 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Integrated Device Technology by 284.6% in the first quarter. Canada Pension Plan Investment Board now owns 581,199 shares of the company’s stock worth $11,880,000 after buying an additional 430,100 shares in the last quarter. NWQ Investment Management Company LLC boosted its stake in Integrated Device Technology by 86.8% in the first quarter. NWQ Investment Management Company LLC now owns 1,441,171 shares of the company’s stock worth $29,458,000 after buying an additional 669,500 shares in the last quarter. Finally, Huntington Asset Advisors Inc. purchased a new stake in Integrated Device Technology during the first quarter worth approximately $102,000. 89.96% of the stock is currently owned by institutional investors.
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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