ValuEngine upgraded shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) from a hold rating to a buy rating in a research report sent to investors on Friday.
Several other research firms have also issued reports on IDTI. Roth Capital increased their price objective on Integrated Device Technology from $35.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. KeyCorp reiterated a buy rating and set a $33.00 price objective on shares of Integrated Device Technology in a research note on Wednesday, November 1st. Zacks Investment Research lowered Integrated Device Technology from a buy rating to a hold rating in a research note on Friday, November 3rd. Barclays PLC increased their price objective on Integrated Device Technology from $24.00 to $28.00 and gave the stock an underweight rating in a research note on Tuesday, October 31st. Finally, Dougherty & Co increased their price objective on Integrated Device Technology from $30.00 to $33.00 and gave the stock a buy rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $32.23.
Integrated Device Technology (IDTI) opened at $32.79 on Friday. The company has a market capitalization of $4,420.74, a price-to-earnings ratio of 30.25, a P/E/G ratio of 3.22 and a beta of 1.98. Integrated Device Technology has a 12-month low of $21.80 and a 12-month 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.
Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Integrated Device Technology had a return on equity of 19.65% and a net margin of 13.32%. The firm had revenue of $204.40 million during the quarter, compared to analyst estimates of $200.99 million. During the same period in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. analysts predict that Integrated Device Technology will post 1.15 EPS for the current year.
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In related news, VP Chris Allexandre sold 1,028 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $32.23, for a total value of $33,132.44. Following the transaction, the vice president now owns 49,936 shares in the company, valued at $1,609,437.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Xianzhi Sean Fan sold 67,041 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $31.72, for a total value of $2,126,540.52. Following the completion of the transaction, the insider now owns 138,993 shares in the company, valued at approximately $4,408,857.96. The disclosure for this sale can be found here. Company insiders own 1.24% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IDTI. FMR LLC boosted its holdings in Integrated Device Technology by 63.4% in the second quarter. FMR LLC now owns 9,999,837 shares of the semiconductor company’s stock valued at $257,896,000 after acquiring an additional 3,878,581 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Integrated Device Technology by 57.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,487,425 shares of the semiconductor company’s stock worth $64,151,000 after buying an additional 907,200 shares during the last quarter. Hood River Capital Management LLC bought a new position in Integrated Device Technology during the second quarter worth about $15,608,000. Hodges Capital Management Inc. boosted its holdings in Integrated Device Technology by 135.8% during the third quarter. Hodges Capital Management Inc. now owns 991,500 shares of the semiconductor company’s stock worth $26,354,000 after buying an additional 571,025 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Integrated Device Technology by 202.2% during the second quarter. Teachers Advisors LLC now owns 777,944 shares of the semiconductor company’s stock worth $20,063,000 after buying an additional 520,484 shares during the last quarter. Institutional investors and hedge funds own 97.50% of the company’s stock.
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.
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