Zacks Investment Research downgraded shares of Integrated Device Technology (NASDAQ:IDTI) from a hold rating to a strong sell rating in a research report report published on Friday.

According to Zacks, “Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. IDT’s market-leading products in RF, real-time interconnect, wireless power, and SmartSensors are among the company’s broad array of complete mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments. Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners throughout the world. IDT stock is traded on the NASDAQ Global Select Stock MarketĀ® under the symbol IDTI. “

Other research analysts have also recently issued research reports about the stock. Loop Capital increased their target price on shares of Integrated Device Technology from $29.00 to $36.00 and gave the stock a buy rating in a report on Tuesday, October 31st. KeyCorp increased their target price on shares of Integrated Device Technology from $33.00 to $37.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Craig Hallum increased their target price on shares of Integrated Device Technology from $30.00 to $36.00 and gave the stock a buy rating in a report on Tuesday, October 31st. ValuEngine upgraded shares of Integrated Device Technology from a hold rating to a buy rating in a research note on Friday, November 10th. Finally, Summit Redstone upgraded shares of Integrated Device Technology from a hold rating to a buy rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Integrated Device Technology has a consensus rating of Buy and an average price target of $33.38.

Integrated Device Technology (NASDAQ:IDTI) opened at $28.21 on Friday. Integrated Device Technology has a 1-year low of $22.70 and a 1-year high of $34.13. The company has a market cap of $3,760.00, a price-to-earnings ratio of -940.33, a P/E/G ratio of 2.80 and a beta of 1.96. The company has a current ratio of 5.62, a quick ratio of 5.01 and a debt-to-equity ratio of 0.69.

Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, January 29th. The semiconductor company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Integrated Device Technology had a negative net margin of 0.33% and a positive return on equity of 20.26%. The business had revenue of $217.10 million during the quarter, compared to analysts’ expectations of $215.32 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. analysts forecast that Integrated Device Technology will post 1.15 EPS for the current fiscal year.

In other news, SVP Brian C. White sold 23,297 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $34.00, for a total value of $792,098.00. Following the transaction, the senior vice president now directly owns 131,272 shares of the company’s stock, valued at $4,463,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian C. White sold 8,417 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $32.50, for a total transaction of $273,552.50. Following the completion of the transaction, the senior vice president now directly owns 108,737 shares in the company, valued at $3,533,952.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,120 shares of company stock valued at $2,614,346. Corporate insiders own 1.24% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its position in shares of Integrated Device Technology by 21.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 20,646 shares of the semiconductor company’s stock valued at $614,000 after purchasing an additional 3,675 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Integrated Device Technology by 213.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 104,634 shares of the semiconductor company’s stock valued at $3,111,000 after purchasing an additional 71,282 shares during the period. Thompson Davis & CO. Inc. raised its position in shares of Integrated Device Technology by 285.7% in the fourth quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 5,000 shares during the period. Comerica Bank raised its position in shares of Integrated Device Technology by 27.3% in the fourth quarter. Comerica Bank now owns 297,981 shares of the semiconductor company’s stock valued at $9,720,000 after purchasing an additional 63,929 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of Integrated Device Technology in the fourth quarter valued at about $360,000. 96.22% of the stock is currently owned by 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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