KeyCorp restated their buy rating on shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) in a report issued on Friday. KeyCorp currently has a $30.00 price target on the semiconductor company’s stock.

IDTI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Integrated Device Technology from a sell rating to a hold rating in a research note on Wednesday, August 23rd. Loop Capital reiterated a buy rating and set a $29.00 price target on shares of Integrated Device Technology in a research note on Tuesday, August 22nd. Bank of America Corporation lowered shares of Integrated Device Technology from a neutral rating to an underperform rating and set a $27.00 price target on the stock. in a research note on Tuesday, August 1st. Needham & Company LLC reiterated a buy rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Finally, Longbow Research initiated coverage on shares of Integrated Device Technology in a research note on Friday, June 9th. They set a buy rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $28.17.

Integrated Device Technology (IDTI) opened at 25.02 on Friday. The company has a 50-day moving average of $24.83 and a 200 day moving average of $24.49. Integrated Device Technology has a 1-year low of $19.35 and a 1-year high of $27.09. The stock has a market cap of $3.34 billion, a P/E ratio of 32.49 and a beta of 1.99.

Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $196.71 million for the quarter, compared to analysts’ expectations of $195.10 million. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Analysts predict that Integrated Device Technology will post $1.49 EPS for the current year.

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In related news, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total transaction of $497,736.82. Following the sale, the vice president now directly owns 67,443 shares in the company, valued at $1,647,632.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory L. Waters sold 170,718 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 221,541 shares of company stock worth $5,398,165 over the last 90 days. Insiders own 1.24% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IDTI. Capstone Asset Management Co. increased its stake in shares of Integrated Device Technology by 23.7% during the first quarter. Capstone Asset Management Co. now owns 16,321 shares of the semiconductor company’s stock worth $386,000 after buying an additional 3,126 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Integrated Device Technology by 1.8% during the first quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the semiconductor company’s stock worth $798,000 after buying an additional 600 shares during the period. First Manhattan Co. increased its stake in shares of Integrated Device Technology by 1.5% during the first quarter. First Manhattan Co. now owns 13,400 shares of the semiconductor company’s stock worth $309,000 after buying an additional 200 shares during the period. Profund Advisors LLC increased its stake in shares of Integrated Device Technology by 9.6% during the first quarter. Profund Advisors LLC now owns 45,794 shares of the semiconductor company’s stock worth $1,084,000 after buying an additional 4,026 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in shares of Integrated Device Technology by 22.2% during the first quarter. Glen Harbor Capital Management LLC now owns 8,228 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,496 shares during the period. Hedge funds and other institutional investors own 95.90% 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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