Integrated Device Technology (IDTI) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Integrated Device Technology (NASDAQ:IDTI) from a buy rating to a strong-buy rating in a research note published on Monday morning.

A number of other analysts also recently issued reports on IDTI. Piper Jaffray assumed coverage on Integrated Device Technology in a research note on Monday, February 26th. They issued an overweight rating and a $33.00 price objective on the stock. ValuEngine raised Integrated Device Technology from a hold rating to a buy rating in a research note on Thursday, March 1st. Craig Hallum reiterated a buy rating and issued a $40.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Needham & Company LLC reiterated a buy rating and issued a $38.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded Integrated Device Technology from a sell rating to a hold rating in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Integrated Device Technology has an average rating of Buy and an average price target of $33.36.

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NASDAQ:IDTI opened at $31.29 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.01 and a current ratio of 5.62. Integrated Device Technology has a 1 year low of $22.70 and a 1 year high of $34.13. The company has a market capitalization of $4,154.07, a price-to-earnings ratio of 28.28, a PEG ratio of 2.35 and a beta of 1.83.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, January 29th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The business had revenue of $217.10 million for the quarter, compared to the consensus estimate of $215.32 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s revenue was up 23.1% compared to the same quarter last year. equities analysts expect that Integrated Device Technology will post 1.15 earnings per share for the current fiscal year.

In related news, VP Mario Montana sold 22,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $32.06, for a total transaction of $705,320.00. Following the completion of the transaction, the vice president now owns 74,705 shares in the company, valued at approximately $2,395,042.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory L. Waters sold 15,000 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $30.22, for a total value of $453,300.00. Following the transaction, the chief executive officer now owns 732,552 shares of the company’s stock, valued at approximately $22,137,721.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,349 shares of company stock valued at $4,747,248. 1.24% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IDTI. Thompson Davis & CO. Inc. boosted its holdings in Integrated Device Technology by 285.7% during the 4th quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 5,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Integrated Device Technology by 47.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 2,441 shares during the period. Systematic Financial Management LP purchased a new stake in shares of Integrated Device Technology in the 4th quarter worth $296,000. Engineers Gate Manager LP purchased a new stake in shares of Integrated Device Technology in the 4th quarter worth $360,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Integrated Device Technology in the 4th quarter worth $363,000. Institutional investors own 97.14% 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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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