Integrated Device Technology, Inc. (NASDAQ:IDTI) - Stock analysts at Dougherty & Co boosted their Q2 2018 earnings per share estimates for shares of Integrated Device Technology in a research note issued to investors on Thursday. Dougherty & Co analyst C. Anderson now forecasts that the semiconductor company will post earnings per share of $0.26 for the quarter, up from their prior forecast of $0.24. Dougherty & Co also issued estimates for Integrated Device Technology’s FY2018 earnings at $1.15 EPS.
Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, July 31st. The semiconductor company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.07. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The company had revenue of $196.71 million during the quarter, compared to the consensus estimate of $195.10 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. WARNING: This story was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://stocknewstimes.com/2017/08/21/q2-2018-eps-estimates-for-integrated-device-technology-inc-raised-by-dougherty-co-idti.html.
A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Needham & Company LLC reiterated a “buy” rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Bank of America Corporation lowered 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 research note on Tuesday, August 1st. Finally, Barclays PLC reiterated an “underweight” rating on shares of Integrated Device Technology in a research note on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.82.
Shares of Integrated Device Technology (NASDAQ IDTI) opened at 23.36 on Monday. Integrated Device Technology has a 52-week low of $19.35 and a 52-week high of $27.09. The company has a market cap of $3.12 billion, a P/E ratio of 30.34 and a beta of 1.97. The firm has a 50-day moving average of $25.29 and a 200-day moving average of $24.56.
Institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its position in Integrated Device Technology by 0.3% in the second quarter. Alps Advisors Inc. now owns 19,844 shares of the semiconductor company’s stock valued at $512,000 after buying an additional 51 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Integrated Device Technology by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 23,071 shares of the semiconductor company’s stock valued at $464,000 after buying an additional 78 shares during the last quarter. Capstone Asset Management Co. increased its position in Integrated Device Technology by 0.6% in the second quarter. Capstone Asset Management Co. now owns 16,421 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 100 shares during the last quarter. Oakbrook Investments LLC increased its position in Integrated Device Technology by 1.5% in the second quarter. Oakbrook Investments LLC now owns 9,850 shares of the semiconductor company’s stock valued at $254,000 after buying an additional 150 shares during the last quarter. Finally, Autus Asset Management LLC increased its position in Integrated Device Technology by 0.3% in the second quarter. Autus Asset Management LLC now owns 59,545 shares of the semiconductor company’s stock valued at $1,536,000 after buying an additional 175 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director S Kenneth Kannappan purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of $24.32 per share, for a total transaction of $48,640.00. Following the completion of the transaction, the director now owns 18,637 shares in the company, valued at $453,251.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sailesh Chittipeddi sold 21,849 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $24.36, for a total transaction of $532,241.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,731 shares of company stock worth $6,441,260. 1.24% of the stock is owned by company insiders.
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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