Integrated Device Technology Inc. (NASDAQ:IDTI) has received a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $26.36.

A number of brokerages have recently weighed in on IDTI. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. Brean Capital reissued a “buy” rating and set a $25.00 price target (up from $23.00) on shares of Integrated Device Technology in a research report on Wednesday, November 2nd. Charter Equity raised shares of Integrated Device Technology from a “market perform” rating to a “buy” rating in a research report on Tuesday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Integrated Device Technology in a research report on Tuesday, November 1st. Finally, Roth Capital started coverage on shares of Integrated Device Technology in a research report on Wednesday, September 28th. They issued a “buy” rating and a $26.00 price objective on the stock.

Shares of Integrated Device Technology (NASDAQ:IDTI) traded down 0.71% during midday trading on Tuesday, hitting $25.10. The stock had a trading volume of 601,276 shares. The firm has a market capitalization of $3.36 billion, a PE ratio of 22.08 and a beta of 2.15. The company’s 50 day moving average price is $22.36 and its 200-day moving average price is $21.50. Integrated Device Technology has a 1-year low of $16.22 and a 1-year high of $29.04.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $184.10 million for the quarter, compared to analysts’ expectations of $183.99 million. Integrated Device Technology had a net margin of 21.49% and a return on equity of 25.09%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities analysts predict that Integrated Device Technology will post $1.40 earnings per share for the current year.

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In related news, Director Norman P. Taffe sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $24.35, for a total value of $170,450.00. Following the transaction, the director now owns 30,957 shares in the company, valued at approximately $753,802.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Matthew D. Brandalise sold 9,500 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $25.53, for a total transaction of $242,535.00. Following the completion of the transaction, the vice president now owns 71,073 shares in the company, valued at approximately $1,814,493.69. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Integrated Device Technology by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,657 shares of the company’s stock worth $108,000 after buying an additional 504 shares during the period. Advisor Group Inc. acquired a new position in shares of Integrated Device Technology during the second quarter worth about $114,000. First Interstate Bank raised its position in shares of Integrated Device Technology by 0.7% in the second quarter. First Interstate Bank now owns 7,097 shares of the company’s stock worth $143,000 after buying an additional 48 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Integrated Device Technology by 72.7% in the second quarter. LS Investment Advisors LLC now owns 8,151 shares of the company’s stock worth $164,000 after buying an additional 3,432 shares during the last quarter. Finally, Cantab Capital Partners LLP acquired a new position in shares of Integrated Device Technology during the second quarter worth about $166,000. Institutional investors and hedge funds own 94.66% of the company’s stock.

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.

5 Day Chart for NASDAQ:IDTI

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