Integrated Device Technology, Inc. (NASDAQ:IDTI) has received an average recommendation of “Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $32.50.

IDTI has been the subject of a number of analyst reports. Bank of America Corporation downgraded Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective for the company. in a research report on Tuesday, August 1st. Needham & Company LLC reissued a “buy” rating on shares of Integrated Device Technology in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Integrated Device Technology from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub downgraded Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Loop Capital reissued a “buy” rating and set a $29.00 price objective on shares of Integrated Device Technology in a research report on Tuesday, August 22nd.

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Integrated Device Technology (IDTI) traded down $0.42 during midday trading on Friday, reaching $32.51. The company’s stock had a trading volume of 565,584 shares, compared to its average volume of 1,584,932. The firm has a market cap of $4,340.00, a P/E ratio of 29.57, a P/E/G ratio of 3.14 and a beta of 1.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.80 and a current ratio of 5.42. Integrated Device Technology has a 52 week low of $21.80 and a 52 week high of $33.92.

Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $204.40 million during 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%. Integrated Device Technology’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. sell-side analysts anticipate that Integrated Device Technology will post 1.15 EPS for the current fiscal year.

In related news, Director Gordon W. Parnell sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.45, for a total transaction of $194,700.00. Following the completion of the sale, the director now owns 82,602 shares in the company, valued at $2,680,434.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Xianzhi Sean Fan sold 67,041 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $31.72, for a total value of $2,126,540.52. Following the sale, the insider now owns 138,993 shares of the company’s stock, valued at approximately $4,408,857.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,069 shares of company stock valued at $2,354,373. 1.24% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC lifted its stake in Integrated Device Technology by 77.4% during the second quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock worth $124,000 after purchasing an additional 2,090 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Integrated Device Technology by 15.7% during the second quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 670 shares during the last quarter. Advisor Group Inc. lifted its stake in Integrated Device Technology by 13.7% during the second quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Integrated Device Technology by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 525 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new stake in Integrated Device Technology during the second quarter worth approximately $152,000. Hedge funds and other institutional investors own 98.46% 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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