Integrated Device Technology, Inc. (NASDAQ:IDTI)‘s stock had its “buy” rating reiterated by equities research analysts at Loop Capital in a research note issued to investors on Tuesday. They presently have a $29.00 price objective on the semiconductor company’s stock. Loop Capital’s target price would indicate a potential upside of 21.14% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, July 5th. Needham & Company LLC upped their price objective on shares of Integrated Device Technology from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 16th. BidaskClub downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Longbow Research initiated coverage on shares of Integrated Device Technology in a report on Friday, June 9th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Pacific Crest restated an “overweight” rating and set a $30.00 price objective on shares of Integrated Device Technology in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.00.

Integrated Device Technology (NASDAQ:IDTI) opened at 23.94 on Tuesday. The company has a market cap of $3.19 billion, a PE ratio of 31.09 and a beta of 1.97. Integrated Device Technology has a 12-month low of $19.35 and a 12-month high of $27.09. The firm has a 50 day moving average price of $25.14 and a 200 day moving average price of $24.52.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings data on Monday, July 31st. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.07. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The business had revenue of $196.71 million for the quarter, compared to analyst estimates of $195.10 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts anticipate that Integrated Device Technology will post $1.49 earnings per share for the current fiscal year.

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In other news, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total value of $497,736.82. Following the completion of the sale, the vice president now owns 67,443 shares in the company, valued at approximately $1,647,632.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory L. Waters sold 170,718 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $24.36, for a total transaction of $4,158,690.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,855 shares of company stock valued at $6,055,823. Company insiders own 1.24% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Integrated Device Technology by 23.6% in the first quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock valued at $2,026,000 after buying an additional 16,315 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Integrated Device Technology by 5.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,207 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 500 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Integrated Device Technology by 57.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,487,425 shares of the semiconductor company’s stock valued at $64,151,000 after buying an additional 907,200 shares during the last quarter. US Bancorp DE raised its stake in Integrated Device Technology by 87.6% in the first quarter. US Bancorp DE now owns 72,206 shares of the semiconductor company’s stock valued at $1,708,000 after buying an additional 33,718 shares during the last quarter. Finally, State Treasurer State of Michigan raised its stake in Integrated Device Technology by 0.4% in the first quarter. State Treasurer State of Michigan now owns 54,220 shares of the semiconductor company’s stock valued at $1,283,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 93.33% 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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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