Integrated Device Technology, Inc. (IDTI) Rating Reiterated by Barclays PLC

Integrated Device Technology, Inc. (NASDAQ:IDTI)‘s stock had its “underweight” rating reissued by stock analysts at Barclays PLC in a report issued on Friday.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Susquehanna Bancshares Inc raised their price objective on shares of Integrated Device Technology from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Wednesday, June 28th. Pacific Crest restated an “overweight” rating and issued a $30.00 price objective on shares of Integrated Device Technology in a research report on Wednesday, June 21st. Needham & Company LLC raised their price objective on shares of Integrated Device Technology from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Finally, BidaskClub lowered shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $27.38.

Shares of Integrated Device Technology (IDTI) opened at 26.33 on Friday. The company has a market cap of $3.50 billion, a P/E ratio of 32.95 and a beta of 1.98. The firm has a 50-day moving average of $25.47 and a 200-day moving average of $24.58. Integrated Device Technology has a 12-month low of $18.49 and a 12-month high of $26.67.

Integrated Device Technology (NASDAQ:IDTI) last issued its earnings results on Monday, May 1st. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $175.70 million during the quarter, compared to analyst estimates of $175.05 million. Integrated Device Technology had a net margin of 15.17% and a return on equity of 21.80%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Analysts predict that Integrated Device Technology will post $1.50 EPS for the current year.

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In other Integrated Device Technology news, VP Mario Montana sold 4,305 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $24.04, for a total transaction of $103,492.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Matthew D. Brandalise sold 8,600 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $24.36, for a total transaction of $209,496.00. The disclosure for this sale can be found here. Insiders have sold 289,016 shares of company stock worth $7,089,245 over the last three months. Insiders own 1.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oakbrook Investments LLC increased its position in shares of Integrated Device Technology by 1.5% in the second quarter. Oakbrook Investments LLC now owns 9,850 shares of the semiconductor company’s stock worth $254,000 after buying an additional 150 shares during the last quarter. Legato Capital Management LLC increased its position in shares of Integrated Device Technology by 1,463.5% in the second quarter. Legato Capital Management LLC now owns 38,039 shares of the semiconductor company’s stock worth $981,000 after buying an additional 35,606 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of Integrated Device Technology by 1.1% in the second quarter. State Treasurer State of Michigan now owns 54,820 shares of the semiconductor company’s stock worth $1,414,000 after buying an additional 600 shares during the last quarter. Aperio Group LLC increased its position in shares of Integrated Device Technology by 13.4% in the second quarter. Aperio Group LLC now owns 32,523 shares of the semiconductor company’s stock worth $839,000 after buying an additional 3,853 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Integrated Device Technology by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 34,700 shares of the semiconductor company’s stock worth $895,000 after buying an additional 1,000 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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