Zacks: Brokerages Anticipate Integrated Device Technology, Inc. (IDTI) Will Post Earnings of $0.41 Per Share

Analysts expect that Integrated Device Technology, Inc. (NASDAQ:IDTI) will announce earnings of $0.41 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Integrated Device Technology’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.41. Integrated Device Technology posted earnings per share of $0.35 during the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The firm is scheduled to report its next earnings results on Monday, January 29th.

According to Zacks, analysts expect that Integrated Device Technology will report full-year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.51 to $1.54. For the next fiscal year, analysts expect that the business will post earnings of $1.82 per share, with EPS estimates ranging from $1.72 to $1.95. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $200.99 million. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.65%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share.

IDTI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Barclays boosted their price target on shares of Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. KeyCorp restated a “buy” rating and issued a $30.00 price target on shares of Integrated Device Technology in a research report on Friday, September 1st. Loop Capital restated a “buy” rating and issued a $29.00 price target on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. Finally, Roth Capital boosted their price target on shares of Integrated Device Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Integrated Device Technology currently has a consensus rating of “Buy” and an average target price of $32.23.

In other news, Director Gordon W. Parnell sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $32.45, for a total transaction of $194,700.00. Following the transaction, the director now directly owns 82,602 shares in the company, valued at $2,680,434.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Xianzhi Sean Fan sold 67,041 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $31.72, for a total transaction of $2,126,540.52. Following the transaction, the insider now owns 138,993 shares in the company, valued at $4,408,857.96. The disclosure for this sale can be found here. Insiders have sold 74,069 shares of company stock worth $2,354,373 over the last quarter. 1.24% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its holdings in Integrated Device Technology by 77.4% in the second quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 2,090 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Integrated Device Technology by 15.7% in the second quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 670 shares during the period. Advisor Group Inc. lifted its holdings in Integrated Device Technology by 13.7% in the second quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock valued at $129,000 after buying an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Integrated Device Technology by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 525 shares during the period. Finally, Fortaleza Asset Management Inc. acquired a new position in Integrated Device Technology in the second quarter valued at approximately $152,000. Institutional investors and hedge funds own 96.23% of the company’s stock.

Shares of Integrated Device Technology (NASDAQ IDTI) opened at $29.56 on Thursday. The firm has a market cap of $3,975.75, a PE ratio of 27.21, a P/E/G ratio of 2.89 and a beta of 1.96. Integrated Device Technology has a 52 week low of $22.70 and a 52 week 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.

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About Integrated Device Technology

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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Earnings History and Estimates for Integrated Device Technology (NASDAQ:IDTI)

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