Needham & Company LLC downgraded shares of Integrated Device Technology (NASDAQ:IDTI) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat reports. Needham & Company LLC currently has $25.00 target price on the semiconductor company’s stock. The analysts noted that the move was a valuation call.
Several other research firms have also recently commented on IDTI. BidaskClub raised Integrated Device Technology from a buy rating to a strong-buy rating in a research note on Wednesday, May 9th. ValuEngine raised Integrated Device Technology from a hold rating to a buy rating in a research note on Saturday, June 2nd. TheStreet raised Integrated Device Technology from a c+ rating to a b rating in a research note on Wednesday, May 23rd. Barclays lifted their target price on Integrated Device Technology from $33.00 to $36.00 and gave the company an equal weight rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Integrated Device Technology from a hold rating to a buy rating and set a $37.00 price target on the stock in a research report on Friday, July 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Integrated Device Technology presently has an average rating of Buy and an average target price of $38.58.
IDTI stock opened at $42.66 on Tuesday. Integrated Device Technology has a fifty-two week low of $24.61 and a fifty-two week high of $43.95. The firm has a market cap of $5.60 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 2.42 and a beta of 1.90. The company has a quick ratio of 4.98, a current ratio of 5.66 and a debt-to-equity ratio of 0.78.
Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, July 30th. The semiconductor company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $228.52 million during the quarter, compared to analysts’ expectations of $226.91 million. Integrated Device Technology had a return on equity of 26.05% and a net margin of 0.21%. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. equities research analysts expect that Integrated Device Technology will post 1.46 EPS for the current fiscal year.
In other Integrated Device Technology news, VP Chris Allexandre sold 4,000 shares of Integrated Device Technology stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $34.04, for a total transaction of $136,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David Shepard sold 3,000 shares of Integrated Device Technology stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $42.65, for a total value of $127,950.00. Following the transaction, the vice president now owns 75,569 shares in the company, valued at $3,223,017.85. The disclosure for this sale can be found here. Insiders sold a total of 112,363 shares of company stock worth $4,029,367 over the last 90 days. 1.23% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Atria Investments LLC bought a new position in Integrated Device Technology during the second quarter worth about $200,000. First Dallas Securities Inc. bought a new position in Integrated Device Technology during the first quarter worth about $238,000. Zeke Capital Advisors LLC bought a new position in Integrated Device Technology during the first quarter worth about $241,000. Natixis bought a new position in Integrated Device Technology during the first quarter worth about $244,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Integrated Device Technology during the first quarter worth about $266,000. Hedge funds and other institutional investors own 95.68% 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 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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