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.
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.
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.
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