Integrated Device Technology, Inc. (IDTI) Hits New 1-Year High at $33.03
Integrated Device Technology, Inc. (NASDAQ:IDTI)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $33.03 and last traded at $33.01, with a volume of 3739991 shares changing hands. The stock had previously closed at $31.30.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Integrated Device Technology from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Dougherty & Co upped their price objective on Integrated Device Technology from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Barclays PLC upped their price objective on Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $33.00 price objective on shares of Integrated Device Technology in a research note on Wednesday, November 1st. Finally, Bank of America Corporation downgraded Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.58.
The company has a market cap of $4,380.00, a PE ratio of 28.45, a PEG ratio of 3.02 and a beta of 1.98. The company has a quick ratio of 4.80, a current ratio of 5.42 and a debt-to-equity ratio of 0.62.
Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $200.99 million. Integrated Device Technology had a return on equity of 19.65% and a net margin of 13.32%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. equities analysts expect that Integrated Device Technology, Inc. will post 1.15 earnings per share for the current year.
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 transaction, the vice president now owns 67,443 shares of the company’s stock, valued at $1,647,632.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.24% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC increased its holdings in shares of Integrated Device Technology by 1.3% in the second quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 234 shares during the period. Alliancebernstein L.P. increased its stake in Integrated Device Technology by 5.1% in the second quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after acquiring an additional 158,917 shares during the last quarter. Northern Trust Corp increased its stake in Integrated Device Technology by 1.7% in the second quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock valued at $58,272,000 after acquiring an additional 37,579 shares during the last quarter. Legal & General Group Plc increased 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 acquiring an additional 16,315 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased 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 acquiring an additional 907,200 shares during the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.
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Integrated Device Technology Company Profile
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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