Media stories about Integrated Device Technology (NASDAQ:IDTI) have been trending somewhat positive on Monday, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Integrated Device Technology earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned news stories about the semiconductor company an impact score of 47.1018743327245 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
NASDAQ IDTI opened at $35.95 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.66 and a quick ratio of 4.98. Integrated Device Technology has a twelve month low of $23.07 and a twelve month high of $36.78. The stock has a market capitalization of $4.63 billion, a P/E ratio of 28.31, a P/E/G ratio of 2.00 and a beta of 1.82.
Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, July 30th. The semiconductor company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Integrated Device Technology had a net margin of 0.21% and a return on equity of 26.05%. The business had revenue of $228.52 million during the quarter, compared to analysts’ expectations of $226.91 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. sell-side analysts anticipate that Integrated Device Technology will post 1.46 earnings per share for the current year.
A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies restated a “buy” rating and set a $37.50 price target on shares of Integrated Device Technology in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, August 6th. BidaskClub cut shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 24th. Cowen upped their price target on shares of Integrated Device Technology from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, July 19th. Finally, Needham & Company LLC upped their price target on shares of Integrated Device Technology from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Integrated Device Technology has an average rating of “Buy” and a consensus target price of $38.13.
In related news, VP David Shepard sold 6,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $35.82, for a total value of $214,920.00. Following the completion of the sale, the vice president now owns 73,569 shares in the company, valued at $2,635,241.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Xianzhi Sean Fan sold 2,650 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $34.59, for a total transaction of $91,663.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,546 shares of company stock valued at $3,695,975. 1.23% of the stock is owned by corporate insiders.
About Integrated Device Technology
Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.
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