Analysts Set Integrated Device Technology Inc (IDTI) Price Target at $42.25
Shares of Integrated Device Technology Inc (NASDAQ:IDTI) have been given an average recommendation of “Buy” by the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.25.
A number of analysts have recently weighed in on IDTI shares. Zacks Investment Research raised Integrated Device Technology from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, August 6th. Piper Jaffray Companies increased their price objective on Integrated Device Technology to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, September 4th. Craig Hallum increased their price objective on Integrated Device Technology from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Barclays increased their price objective on Integrated Device Technology from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 31st. Finally, BidaskClub raised Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th.
In related news, CEO Gregory L. Waters sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $42.63, for a total value of $852,600.00. Following the completion of the sale, the chief executive officer now owns 790,370 shares of the company’s stock, valued at $33,693,473.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chris Allexandre sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the sale, the vice president now directly owns 73,569 shares of the company’s stock, valued at approximately $2,427,777. The disclosure for this sale can be found here. Insiders sold 76,000 shares of company stock valued at $2,769,580 in the last ninety days. 1.23% of the stock is currently owned by insiders.
NASDAQ IDTI traded up $0.24 on Friday, reaching $47.22. 61,315 shares of the company’s stock traded hands, compared to its average volume of 4,818,411. Integrated Device Technology has a 12 month low of $25.11 and a 12 month high of $47.45. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.66 and a quick ratio of 4.98. The stock has a market capitalization of $6.09 billion, a P/E ratio of 37.11, a PEG ratio of 3.22 and a beta of 1.90.
Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings results on Monday, July 30th. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Integrated Device Technology had a net margin of 0.21% and a return on equity of 26.05%. The business had revenue of $228.52 million for the quarter, compared to analysts’ expectations of $226.91 million. During the same period last year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 16.2% on a year-over-year basis. equities analysts expect that Integrated Device Technology will post 1.46 earnings per share for the current fiscal year.
About Integrated Device Technology
Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.
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