Integrated Device Technology, Inc. (NASDAQ:IDTI) had its price target boosted by Barclays PLC from $22.00 to $24.00 in a research report report published on Wednesday morning. They currently have an underweight rating on the semiconductor company’s stock.

Several other equities analysts have also recently commented on IDTI. KeyCorp reiterated a buy rating and set a $30.00 target price on shares of Integrated Device Technology in a research note on Tuesday. Zacks Investment Research upgraded shares of Integrated Device Technology from a sell rating to a hold rating in a research note on Wednesday. BidaskClub cut shares of Integrated Device Technology from a buy rating to a hold rating in a research note on Saturday, August 5th. Loop Capital reiterated a buy rating and set a $29.00 target price on shares of Integrated Device Technology in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation cut shares of Integrated Device Technology from a neutral rating to an underperform rating and set a $27.00 target price for the company. in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $28.55.

Integrated Device Technology (IDTI) traded down 0.60% during midday trading on Wednesday, hitting $27.99. 1,260,768 shares of the stock traded hands. The company has a 50-day moving average of $26.81 and a 200-day moving average of $25.16. The stock has a market cap of $3.74 billion, a PE ratio of 36.35 and a beta of 1.98. Integrated Device Technology has a 1-year low of $20.50 and a 1-year high of $28.44.

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

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In other Integrated Device Technology news, Director S Kenneth Kannappan acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $24.32 per share, for a total transaction of $48,640.00. Following the purchase, the director now owns 18,637 shares in the company, valued at approximately $453,251.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mario Montana sold 20,374 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 67,443 shares of the company’s stock, valued at approximately $1,647,632.49. The disclosure for this sale can be found here. Corporate insiders own 1.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Integrated Device Technology by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 19,844 shares of the semiconductor company’s stock valued at $512,000 after buying an additional 51 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Integrated Device Technology by 0.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 23,071 shares of the semiconductor company’s stock worth $464,000 after purchasing an additional 78 shares during the last quarter. Capstone Asset Management Co. grew its holdings in shares of Integrated Device Technology by 0.6% in the 2nd quarter. Capstone Asset Management Co. now owns 16,421 shares of the semiconductor company’s stock worth $423,000 after purchasing an additional 100 shares during the last quarter. Oakbrook Investments LLC grew its holdings in shares of Integrated Device Technology by 1.5% in the 2nd quarter. Oakbrook Investments LLC now owns 9,850 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 150 shares during the last quarter. Finally, Autus Asset Management LLC grew its holdings in shares of Integrated Device Technology by 0.3% in the 2nd quarter. Autus Asset Management LLC now owns 59,545 shares of the semiconductor company’s stock worth $1,536,000 after purchasing an additional 175 shares during the last quarter. 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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