Integrated Device Technology (IDTI) Expected to Post Quarterly Sales of $227.48 Million

Wall Street brokerages forecast that Integrated Device Technology (NASDAQ:IDTI) will report sales of $227.48 million for the current quarter, according to Zacks. Five analysts have provided estimates for Integrated Device Technology’s earnings, with the highest sales estimate coming in at $228.90 million and the lowest estimate coming in at $227.00 million. Integrated Device Technology posted sales of $196.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.6%. The company is expected to issue its next earnings results on Monday, July 30th.

According to Zacks, analysts expect that Integrated Device Technology will report full-year sales of $922.56 million for the current fiscal year, with estimates ranging from $920.00 million to $925.80 million. For the next fiscal year, analysts anticipate that the company will report sales of $987.71 million per share, with estimates ranging from $980.00 million to $996.44 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings results on Monday, April 30th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Integrated Device Technology had a negative net margin of 1.44% and a positive return on equity of 23.10%. The business had revenue of $224.60 million for the quarter, compared to analyst estimates of $222.20 million. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year.



IDTI has been the topic of a number of recent analyst reports. Piper Jaffray Companies initiated coverage on shares of Integrated Device Technology in a research note on Monday, February 26th. They set an “overweight” rating and a $33.00 price target on the stock. Zacks Investment Research upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Friday, May 4th. BidaskClub upgraded shares of Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 16th. ValuEngine upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, TheStreet upgraded shares of Integrated Device Technology from a “c+” rating to a “b” rating in a research note on Wednesday, May 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.36.

In other Integrated Device Technology news, CEO Gregory L. Waters sold 15,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $30.22, for a total transaction of $453,300.00. Following the transaction, the chief executive officer now directly owns 732,552 shares in the company, valued at $22,137,721.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Waters sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $28.43, for a total transaction of $284,300.00. Following the transaction, the chief executive officer now owns 732,552 shares in the company, valued at $20,826,453.36. The disclosure for this sale can be found here. Insiders have sold 175,670 shares of company stock worth $5,577,298 over the last 90 days. 1.24% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Chesapeake Wealth Management purchased a new stake in shares of Integrated Device Technology in the first quarter valued at about $412,000. Summit Trail Advisors LLC lifted its holdings in shares of Integrated Device Technology by 18.9% in the first quarter. Summit Trail Advisors LLC now owns 40,041 shares of the semiconductor company’s stock valued at $918,000 after purchasing an additional 6,360 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Integrated Device Technology by 2.0% in the first quarter. Principal Financial Group Inc. now owns 574,252 shares of the semiconductor company’s stock valued at $17,549,000 after purchasing an additional 11,378 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Integrated Device Technology in the first quarter valued at about $1,907,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of Integrated Device Technology by 51.7% in the first quarter. Xact Kapitalforvaltning AB now owns 18,497 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 6,300 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

Shares of Integrated Device Technology stock traded up $0.08 on Friday, reaching $34.53. 1,049,400 shares of the stock were exchanged, compared to its average volume of 1,383,024. Integrated Device Technology has a 1-year low of $23.07 and a 1-year high of $35.40. The company has a quick ratio of 4.23, a current ratio of 4.83 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 2.27 and a beta of 1.86.

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 Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.

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