ValuEngine lowered shares of Integrated Device Technology (NASDAQ:IDTI) from a buy rating to a hold rating in a research report sent to investors on Thursday.

A number of other equities research analysts also recently weighed in on IDTI. 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. Loop Capital reiterated a buy rating and set a $29.00 price objective on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. KeyCorp reiterated a buy rating and set a $30.00 price objective on shares of Integrated Device Technology in a research report on Friday, September 1st. Finally, Barclays increased their price objective on Integrated Device Technology from $22.00 to $24.00 and gave the company an underweight rating in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $32.23.

Integrated Device Technology (NASDAQ IDTI) traded up $0.66 on Thursday, reaching $30.75. The company’s stock had a trading volume of 1,950,000 shares, compared to its average volume of 1,572,087. The firm has a market capitalization of $4,084.68, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 2.97 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.42 and a quick ratio of 4.80. Integrated Device Technology has a 12-month low of $21.80 and a 12-month 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, topping analysts’ consensus estimates of $0.34 by $0.01. The firm 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%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. research analysts predict that Integrated Device Technology will post 1.15 earnings per share for the current fiscal year.

In other Integrated Device Technology news, insider Xianzhi Sean Fan sold 67,041 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $31.72, for a total transaction of $2,126,540.52. Following the sale, the insider now directly owns 138,993 shares of the company’s stock, valued at approximately $4,408,857.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Chris Allexandre sold 1,028 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $32.23, for a total transaction of $33,132.44. Following the sale, the vice president now directly owns 49,936 shares in the company, valued at $1,609,437.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,069 shares of company stock worth $2,354,373. Company insiders own 1.24% of the company’s stock.

Large investors have recently made changes to their positions in the business. Riverhead Capital Management LLC raised its stake in Integrated Device Technology by 77.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock valued at $124,000 after purchasing an additional 2,090 shares during the period. Public Employees Retirement System of Ohio raised its stake in Integrated Device Technology by 15.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 670 shares during the period. Advisor Group Inc. raised its stake in Integrated Device Technology by 13.7% during the 2nd quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Integrated Device Technology by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 525 shares during the period. Finally, Fortaleza Asset Management Inc. acquired a new stake in Integrated Device Technology during the 2nd quarter valued at $152,000. 96.23% of the stock is currently owned by institutional investors.

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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.

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