Zacks Investment Research upgraded shares of Integrated Device Technology Inc. (NASDAQ:IDTI) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $24.00 target price on the stock.

According to Zacks, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers. “

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Integrated Device Technology in a report on Thursday, August 18th. They set an overweight rating and a $26.00 price target for the company. Charter Equity downgraded shares of Integrated Device Technology from a buy rating to a mkt perform rating in a report on Tuesday, August 2nd. Brean Capital reiterated a buy rating and set a $23.00 price target (down from $26.00) on shares of Integrated Device Technology in a report on Wednesday, August 3rd. Vetr upgraded shares of Integrated Device Technology from a buy rating to a strong-buy rating and set a $26.00 price target for the company in a report on Wednesday, June 15th. Finally, Needham & Company LLC reiterated a buy rating and set a $25.00 price target (down from $27.00) on shares of Integrated Device Technology in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Integrated Device Technology has an average rating of Buy and an average target price of $26.07.

Shares of Integrated Device Technology (NASDAQ:IDTI) opened at 21.05 on Tuesday. The company’s 50-day moving average price is $21.26 and its 200-day moving average price is $20.98. The firm has a market capitalization of $2.83 billion, a PE ratio of 17.07 and a beta of 2.02. Integrated Device Technology has a 12-month low of $16.22 and a 12-month high of $29.04.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The company earned $192.10 million during the quarter, compared to the consensus estimate of $191.06 million. Integrated Device Technology had a net margin of 24.36% and a return on equity of 25.27%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. Analysts anticipate that Integrated Device Technology will post $1.41 EPS for the current year.

In related news, VP Mario Montana sold 217,254 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $19.72, for a total value of $4,284,248.88. Following the transaction, the vice president now owns 144,260 shares of the company’s stock, valued at approximately $2,844,807.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its position in Integrated Device Technology by 39.1% in the first quarter. Aperio Group LLC now owns 27,763 shares of the company’s stock valued at $567,000 after buying an additional 7,807 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Integrated Device Technology by 30.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 99,985 shares of the company’s stock valued at $2,044,000 after buying an additional 23,090 shares in the last quarter. Royce & Associates LP boosted its position in Integrated Device Technology by 118.1% in the first quarter. Royce & Associates LP now owns 386,100 shares of the company’s stock valued at $7,892,000 after buying an additional 209,100 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new position in Integrated Device Technology during the first quarter valued at approximately $102,000. Finally, NWQ Investment Management Company LLC boosted its position in Integrated Device Technology by 86.8% in the first quarter. NWQ Investment Management Company LLC now owns 1,441,171 shares of the company’s stock valued at $29,458,000 after buying an additional 669,500 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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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