Loop Capital reiterated their buy rating on shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) in a research report report published on Tuesday. Loop Capital currently has a $29.00 target price on the semiconductor company’s stock.
A number of other research firms have also issued reports on IDTI. Zacks Investment Research raised Integrated Device Technology from a hold rating to a buy rating and set a $29.00 target price on the stock in a report on Wednesday, July 5th. BidaskClub lowered Integrated Device Technology from a strong-buy rating to a buy rating in a report on Thursday, June 15th. Needham & Company LLC reaffirmed a buy rating on shares of Integrated Device Technology in a report on Tuesday, August 1st. Barclays PLC reaffirmed an underweight rating on shares of Integrated Device Technology in a report on Friday, July 21st. Finally, Susquehanna Bancshares Inc raised their target price on Integrated Device Technology from $30.00 to $33.00 and gave the company a positive rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Integrated Device Technology has an average rating of Hold and an average price target of $28.00.
Shares of Integrated Device Technology (NASDAQ:IDTI) opened at 23.90 on Tuesday. The firm’s 50-day moving average is $25.10 and its 200-day moving average is $24.51. Integrated Device Technology has a 12-month low of $19.35 and a 12-month high of $27.09. The firm has a market cap of $3.19 billion, a PE ratio of 31.04 and a beta of 1.97.
Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $196.71 million during the quarter, compared to analyst estimates of $195.10 million. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities analysts expect that Integrated Device Technology will post $1.49 earnings per share for the current fiscal year.
In related news, VP Matthew D. Brandalise sold 8,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $24.36, for a total transaction of $209,496.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director S Kenneth Kannappan bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of $24.32 per share, with a total value of $48,640.00. Following the transaction, the director now directly owns 18,637 shares in the company, valued at $453,251.84. The disclosure for this purchase can be found here. Insiders have sold a total of 221,541 shares of company stock worth $5,398,165 in the last three months. 1.24% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of IDTI. Israel Discount Bank of New York bought a new position in Integrated Device Technology during the first quarter valued at approximately $103,000. TrimTabs Asset Management LLC increased its position in Integrated Device Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 4,745 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 2,232 shares during the period. Riverhead Capital Management LLC increased its position 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 increased its position 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. Finally, Advisor Group Inc. increased its position 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. Institutional investors and hedge funds own 93.33% of the company’s stock.
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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