Integrated Device Technology, Inc. (NASDAQ:IDTI) had its price target raised by Craig Hallum from $30.00 to $36.00 in a research note released on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on IDTI. Dougherty & Co boosted their target price on shares of Integrated Device Technology from $30.00 to $33.00 and gave the stock a buy rating in a report on Tuesday. Needham & Company LLC reissued a buy rating and set a $36.00 target price on shares of Integrated Device Technology in a report on Tuesday. Loop Capital boosted 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. Barclays PLC boosted their target price on shares of Integrated Device Technology from $22.00 to $24.00 and gave the stock an underweight rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research raised shares of Integrated Device Technology from a sell rating to a hold rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $31.58.

Shares of Integrated Device Technology (IDTI) traded up $0.29 during trading on Tuesday, hitting $31.30. 1,251,222 shares of the company traded hands, compared to its average volume of 1,449,689. The company has a market capitalization of $4.11 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.98 and a beta of 1.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.29 and a current ratio of 5.42.

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

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In other news, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total value of $497,736.82. Following the sale, the vice president now directly owns 67,443 shares of the company’s stock, valued at approximately $1,647,632.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.24% of the company’s stock.

Large investors have recently bought and sold shares of the company. Greenwood Capital Associates LLC boosted its stake in shares of Integrated Device Technology by 1.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 18,604 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 234 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Integrated Device Technology by 5.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,252,085 shares of the semiconductor company’s stock valued at $83,871,000 after purchasing an additional 158,917 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Integrated Device Technology by 1.7% in the 2nd quarter. Northern Trust Corp now owns 2,259,492 shares of the semiconductor company’s stock valued at $58,272,000 after purchasing an additional 37,579 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Integrated Device Technology by 23.6% in the 1st quarter. Legal & General Group Plc now owns 85,591 shares of the semiconductor company’s stock valued at $2,026,000 after purchasing an additional 16,315 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Integrated Device Technology by 57.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,487,425 shares of the semiconductor company’s stock valued at $64,151,000 after purchasing an additional 907,200 shares during the last quarter. 96.44% of the stock is currently owned by institutional investors.

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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