Integrated Device Technology Inc (IDTI) Expected to Post Earnings of $0.44 Per Share

Wall Street analysts forecast that Integrated Device Technology Inc (NASDAQ:IDTI) will post $0.44 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Integrated Device Technology’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.44. Integrated Device Technology reported earnings of $0.35 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.7%. The business is expected to announce its next earnings results on Monday, May 7th.

On average, analysts expect that Integrated Device Technology will report full-year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.54. For the next financial year, analysts anticipate that the firm will report earnings of $1.77 per share, with EPS estimates ranging from $1.70 to $1.90. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, January 29th. The semiconductor company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $217.10 million during the quarter, compared to the consensus estimate of $215.32 million. Integrated Device Technology had a positive return on equity of 20.26% and a negative net margin of 0.33%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share.

IDTI has been the topic of a number of research analyst reports. Zacks Investment Research cut Integrated Device Technology from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Barclays lifted their target price on Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $30.00 target price on shares of Integrated Device Technology in a report on Tuesday, October 17th. Roth Capital lifted their target price on Integrated Device Technology from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, Dougherty & Co lifted their target price on Integrated Device Technology from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Integrated Device Technology presently has an average rating of “Buy” and a consensus price target of $33.38.

Shares of Integrated Device Technology (NASDAQ IDTI) opened at $27.80 on Tuesday. The company has a market capitalization of $3,737.21, a price-to-earnings ratio of -926.36, a PEG ratio of 2.75 and a beta of 1.96. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.62 and a quick ratio of 5.01. Integrated Device Technology has a 1 year low of $22.70 and a 1 year high of $34.13.

In related news, SVP Sailesh Chittipeddi sold 5,045 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $31.23, for a total value of $157,555.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory L. Waters sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $28.33, for a total value of $283,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,120 shares of company stock worth $2,897,646. 1.24% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Integrated Device Technology by 15.7% during 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 purchasing an additional 670 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Integrated Device Technology by 13.7% during the second quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 600 shares during the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of Integrated Device Technology by 285.7% during the fourth quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 5,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Integrated Device Technology by 47.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 2,441 shares during the last quarter. Finally, Fortaleza Asset Management Inc. grew its holdings in shares of Integrated Device Technology by 50.7% during the third quarter. Fortaleza Asset Management Inc. now owns 8,905 shares of the semiconductor company’s stock valued at $237,000 after purchasing an additional 2,995 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

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About Integrated Device Technology

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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