Equities research analysts predict that Integrated Device Technology Inc (NASDAQ:IDTI) will post earnings per share of $0.27 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Integrated Device Technology’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.28. Integrated Device Technology posted earnings of $0.32 per share in the same quarter last year, which indicates a negative year over year growth rate of 15.6%. The business is expected to report its next quarterly earnings results after the market closes on Monday, May 1st.
On average, analysts expect that Integrated Device Technology will report full year earnings of $1.11 per share for the current year, with EPS estimates ranging from $1.10 to $1.11. For the next year, analysts expect that the firm will report earnings of $1.20 per share, with EPS estimates ranging from $1.09 to $1.31. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Integrated Device Technology.
Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, January 30th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $176.40 million for the quarter, compared to analyst estimates of $176.20 million. Integrated Device Technology had a net margin of 21.82% and a return on equity of 23.43%. Integrated Device Technology’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS.
A number of research firms have weighed in on IDTI. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Integrated Device Technology in a research report on Tuesday. Goldman Sachs Group Inc began coverage on shares of Integrated Device Technology in a research report on Monday. They set a “neutral” rating and a $24.00 price objective on the stock. Zacks Investment Research cut shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Summit Redstone cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Finally, Pacific Crest reiterated an “overweight” rating and set a $30.00 price objective on shares of Integrated Device Technology in a research report on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.13.
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Integrated Device Technology (NASDAQ:IDTI) traded up 1.29% during mid-day trading on Friday, reaching $23.54. 1,743,308 shares of the company were exchanged. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 20.09 and a beta of 2.11. The stock has a 50 day moving average of $23.74 and a 200-day moving average of $23.76. Integrated Device Technology has a one year low of $18.49 and a one year high of $26.66.
In other news, VP Xianzhi Sean Fan sold 84,375 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $24.49, for a total transaction of $2,066,343.75. Following the completion of the sale, the vice president now directly owns 179,691 shares of the company’s stock, valued at $4,400,632.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon W. Parnell sold 6,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $23.99, for a total transaction of $143,940.00. Following the sale, the director now directly owns 77,309 shares of the company’s stock, valued at $1,854,642.91. The disclosure for this sale can be found here. Insiders have sold 93,209 shares of company stock valued at $2,276,061 over the last three months. Insiders own 1.38% of the company’s stock.
Several hedge funds have recently modified their holdings of IDTI. Elkfork Partners LLC bought a new stake in shares of Integrated Device Technology during the fourth quarter worth about $103,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Integrated Device Technology during the fourth quarter worth about $202,000. LS Investment Advisors LLC raised its stake in shares of Integrated Device Technology by 6.0% in the third quarter. LS Investment Advisors LLC now owns 8,638 shares of the semiconductor company’s stock worth $200,000 after buying an additional 487 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Integrated Device Technology during the fourth quarter worth about $206,000. Finally, Spectrum Asset Management Inc. NB CA bought a new stake in shares of Integrated Device Technology during the third quarter worth about $208,000. 93.63% of the stock is owned by hedge funds and other institutional investors.
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.
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