Integrated Device Technology, Inc. (NASDAQ:IDTI) had its target price increased by stock analysts at Craig Hallum from $30.00 to $36.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target indicates a potential upside of 15.87% from the stock’s current price.
Several other equities research analysts also recently commented on IDTI. Zacks Investment Research raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, July 5th. Barclays PLC reaffirmed an “underweight” rating on shares of Integrated Device Technology in a report on Friday, July 21st. Bank of America Corporation downgraded shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a report on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Finally, BidaskClub downgraded shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus price target of $31.08.
Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $204.40 million for the quarter, compared to the consensus estimate of $200.99 million. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.65%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share.
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In related news, VP Mario Montana sold 20,374 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total value of $497,736.82. Following the sale, the vice president now directly owns 67,443 shares of the company’s stock, valued at $1,647,632.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.24% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Greenwood Capital Associates LLC raised its stake in Integrated Device Technology by 1.3% in the second quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 234 shares in the last quarter. Alliancebernstein L.P. raised its stake in Integrated Device Technology by 5.1% in the second quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after purchasing an additional 158,917 shares in the last quarter. Northern Trust Corp raised its stake in Integrated Device Technology by 1.7% in the second quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock valued at $58,272,000 after purchasing an additional 37,579 shares in the last quarter. Legal & General Group Plc raised its stake in Integrated Device Technology by 23.6% in the first quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock valued at $2,026,000 after purchasing an additional 16,315 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Integrated Device Technology by 57.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,487,425 shares of the semiconductor company’s stock valued at $64,151,000 after purchasing an additional 907,200 shares in the last quarter. 96.44% 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.
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