Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) have received an average rating of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $27.67.

Several equities analysts have recently issued reports on IDTI shares. Zacks Investment Research downgraded shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Integrated Device Technology in a report on Tuesday, April 18th. Susquehanna Bancshares Inc upped their price objective on shares of Integrated Device Technology from $30.00 to $33.00 and gave the company a “positive” rating in a report on Wednesday, June 28th. Barclays PLC restated an “underweight” rating on shares of Integrated Device Technology in a report on Friday, July 21st. Finally, BidaskClub downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th.

Shares of Integrated Device Technology (NASDAQ IDTI) opened at 23.57 on Friday. The company’s 50-day moving average is $25.54 and its 200 day moving average is $24.64. Integrated Device Technology has a 12 month low of $18.84 and a 12 month high of $27.09. The stock has a market capitalization of $3.14 billion, a P/E ratio of 30.61 and a beta of 1.97.

Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, July 31st. The semiconductor company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The firm had revenue of $196.71 million during the quarter, compared to the consensus estimate of $195.10 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that Integrated Device Technology will post $1.49 earnings per share for the current year.

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In other news, SVP Sailesh Chittipeddi sold 4,538 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $24.04, for a total transaction of $109,093.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory L. Waters sold 170,718 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $24.36, for a total value of $4,158,690.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 289,016 shares of company stock worth $7,089,245. Insiders own 1.24% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in IDTI. Amalgamated Bank raised its position in shares of Integrated Device Technology by 4.0% in the second quarter. Amalgamated Bank now owns 19,258 shares of the semiconductor company’s stock worth $497,000 after buying an additional 749 shares during the period. Nationwide Fund Advisors raised its position in shares of Integrated Device Technology by 2.2% in the second quarter. Nationwide Fund Advisors now owns 345,414 shares of the semiconductor company’s stock worth $8,908,000 after buying an additional 7,564 shares during the period. Teachers Advisors LLC raised its position in shares of Integrated Device Technology by 202.2% in the second quarter. Teachers Advisors LLC now owns 777,944 shares of the semiconductor company’s stock worth $20,063,000 after buying an additional 520,484 shares during the period. Riverhead Capital Management LLC raised its position 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 period. Finally, Trigran Investments Inc. raised its position in shares of Integrated Device Technology by 38.3% in the second quarter. Trigran Investments Inc. now owns 1,512,235 shares of the semiconductor company’s stock worth $39,000,000 after buying an additional 419,130 shares during the period. Hedge funds and other institutional investors own 95.15% of the company’s stock.

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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