Integrated Device Technology’s (IDTI) “Overweight” Rating Reaffirmed at KeyCorp

Integrated Device Technology, Inc. (NASDAQ:IDTI)‘s stock had its “overweight” rating restated by research analysts at KeyCorp in a report released on Thursday.

IDTI has been the subject of a number of other reports. Loop Capital reaffirmed a “buy” rating and set a $29.00 price target on shares of Integrated Device Technology in a report on Tuesday, August 22nd. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Bank of America Corporation lowered shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a report on Tuesday, August 1st. Longbow Research initiated coverage on shares of Integrated Device Technology in a report on Friday, June 9th. They set a “buy” rating and a $31.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Integrated Device Technology has an average rating of “Hold” and a consensus price target of $28.17.

Integrated Device Technology (NASDAQ IDTI) traded up 1.41% during midday trading on Thursday, hitting $27.36. 1,255,524 shares of the stock traded hands. The company’s 50-day moving average is $24.60 and its 200-day moving average is $24.51. Integrated Device Technology has a one year low of $19.38 and a one year high of $27.70. The company has a market cap of $3.65 billion, a PE ratio of 35.53 and a beta of 1.99.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.07). The firm had revenue of $196.71 million for the quarter, compared to analyst estimates of $195.10 million. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. Integrated Device Technology’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts expect that Integrated Device Technology will post $1.49 EPS for the current fiscal year.

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In other Integrated Device Technology news, Director S Kenneth Kannappan purchased 2,000 shares of Integrated Device Technology stock in a transaction dated Thursday, August 3rd. The shares were bought at an average cost of $24.32 per share, for a total transaction of $48,640.00. Following the transaction, the director now owns 18,637 shares in the company, valued at approximately $453,251.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mario Montana sold 20,374 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.43, for a total transaction of $497,736.82. Following the completion of the transaction, the vice president now owns 67,443 shares in the company, valued at $1,647,632.49. The disclosure for this sale can be found here. Company insiders own 1.24% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Integrated Device Technology by 15.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after buying an additional 670 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Integrated Device Technology by 16.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,516 shares of the semiconductor company’s stock worth $271,000 after buying an additional 1,461 shares during the last quarter. BlueCrest Capital Management Ltd lifted its position in shares of Integrated Device Technology by 8.3% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 41,400 shares of the semiconductor company’s stock worth $1,068,000 after buying an additional 3,169 shares during the last quarter. State Street Corp lifted its position in shares of Integrated Device Technology by 2.8% in the 2nd quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock worth $125,094,000 after buying an additional 129,876 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Integrated Device Technology in the 2nd quarter worth about $4,926,000. Institutional investors own 95.90% 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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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