Integrated Device Technology (NASDAQ:IDTI) was upgraded by investment analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a $33.00 price target on the semiconductor company’s stock, up from their prior price target of $28.00. Barclays’ target price would indicate a potential upside of 3.94% from the company’s current price.

IDTI has been the subject of several other research reports. Dougherty & Co upped their price target on shares of Integrated Device Technology from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Roth Capital upped their price target on shares of Integrated Device Technology from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. KeyCorp reaffirmed a “buy” rating and issued a $33.00 price target on shares of Integrated Device Technology in a research report on Wednesday, November 1st. Loop Capital upped their price target on shares of Integrated Device Technology from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $32.23.

Shares of Integrated Device Technology (NASDAQ:IDTI) traded down $0.54 on Wednesday, hitting $31.75. 1,025,600 shares of the stock traded hands, compared to its average volume of 1,255,230. Integrated Device Technology has a 52-week low of $22.70 and a 52-week high of $33.92. The stock has a market cap of $4,320.00, a PE ratio of 44.10, a PEG ratio of 3.12 and a beta of 1.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 5.42 and a quick ratio of 4.80.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Integrated Device Technology had a net margin of 13.32% and a return on equity of 19.65%. The firm had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $200.99 million. During the same quarter in the prior year, the company earned $0.34 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. equities analysts expect that Integrated Device Technology will post 1.15 earnings per share for the current fiscal year.

In other Integrated Device Technology news, Director Gordon W. Parnell sold 6,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $32.45, for a total value of $194,700.00. Following the completion of the transaction, the director now owns 82,602 shares of the company’s stock, valued at $2,680,434.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brian C. White sold 8,417 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was 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 of the company’s stock, valued at approximately $3,533,952.50. The disclosure for this sale can be found here. Insiders have sold 105,264 shares of company stock valued at $3,310,127 in the last three months. 1.24% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC raised its holdings in shares of Integrated Device Technology by 77.4% in the second quarter. Riverhead Capital Management LLC now owns 4,790 shares of the semiconductor company’s stock worth $124,000 after buying an additional 2,090 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Integrated Device Technology by 15.7% in the second quarter. Public Employees Retirement System of Ohio now owns 4,935 shares of the semiconductor company’s stock worth $127,000 after buying an additional 670 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Integrated Device Technology by 13.7% in the second quarter. Advisor Group Inc. now owns 4,964 shares of the semiconductor company’s stock worth $129,000 after buying an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Integrated Device Technology by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,182 shares of the semiconductor company’s stock worth $134,000 after buying an additional 525 shares during the last quarter. Finally, Fortaleza Asset Management Inc. raised its holdings in shares of Integrated Device Technology by 50.7% in the third quarter. Fortaleza Asset Management Inc. now owns 8,905 shares of the semiconductor company’s stock worth $237,000 after buying an additional 2,995 shares during the last quarter.

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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.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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