Integrated Device Technology (IDTI) Hits New 12-Month High and Low at $34.94

Integrated Device Technology (NASDAQ:IDTI) shares reached a new 52-week high and low on Thursday . The company traded as low as $34.94 and last traded at $34.70, with a volume of 37562 shares trading hands. The stock had previously closed at $34.55.

A number of research analysts have recently weighed in on IDTI shares. Piper Jaffray Companies started coverage on shares of Integrated Device Technology in a research report on Monday, February 26th. They set an “overweight” rating and a $33.00 target price for the company. BidaskClub raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. ValuEngine raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Finally, Bank of America raised shares of Integrated Device Technology from an “underperform” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Tuesday, May 1st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Integrated Device Technology has a consensus rating of “Buy” and an average price target of $35.36.

The company has a market cap of $4.41 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.20 and a beta of 1.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.23 and a current ratio of 4.83.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, April 30th. The semiconductor company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $222.20 million. Integrated Device Technology had a negative net margin of 1.44% and a positive return on equity of 23.10%. Integrated Device Technology’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. analysts forecast that Integrated Device Technology will post 1.43 EPS for the current year.

In other Integrated Device Technology news, VP Chris Allexandre sold 3,000 shares of the stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $34.17, for a total value of $102,510.00. Following the sale, the vice president now directly owns 71,724 shares in the company, valued at approximately $2,450,809.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. White sold 27,801 shares of the stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $30.80, for a total transaction of $856,270.80. Following the completion of the sale, the chief financial officer now owns 134,813 shares in the company, valued at $4,152,240.40. The disclosure for this sale can be found here. Insiders have sold a total of 164,307 shares of company stock worth $5,126,761 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Integrated Device Technology by 47.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 2,441 shares in the last quarter. First Dallas Securities Inc. purchased a new stake in Integrated Device Technology in the 1st quarter worth approximately $238,000. Zeke Capital Advisors LLC purchased a new stake in Integrated Device Technology in the 1st quarter worth approximately $241,000. Natixis purchased a new stake in Integrated Device Technology in the 1st quarter worth approximately $244,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Integrated Device Technology in the 1st quarter worth approximately $266,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Integrated Device Technology Company Profile

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.

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