Integrated Device Technology, Inc. (NASDAQ:IDTI) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

IDTI has been the subject of several other reports. Zacks Investment Research cut Integrated Device Technology from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Barclays PLC boosted their price target on Integrated Device Technology from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $30.00 price target on shares of Integrated Device Technology in a research note on Friday, September 1st. Loop Capital reiterated a “buy” rating and issued a $29.00 price target on shares of Integrated Device Technology in a research note on Tuesday, August 22nd. Finally, Roth Capital boosted their price target on Integrated Device Technology from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Buy” and a consensus target price of $32.23.

Shares of Integrated Device Technology (IDTI) traded up $0.11 during mid-day trading on Friday, hitting $33.28. The company had a trading volume of 1,583,100 shares, compared to its average volume of 1,748,060. The company has a current ratio of 5.42, a quick ratio of 4.80 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $4,420.75, a PE ratio of 30.25, a P/E/G ratio of 3.22 and a beta of 1.98. Integrated Device Technology has a fifty-two week low of $21.80 and a fifty-two week high of $33.64.

Integrated Device Technology (NASDAQ:IDTI) last issued 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 business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $200.99 million. Integrated Device Technology had a return on equity of 19.65% and a net margin of 13.32%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. equities research analysts predict that Integrated Device Technology will post 1.15 earnings per share for the current fiscal year.

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In other news, insider Xianzhi Sean Fan sold 67,041 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $31.72, for a total value of $2,126,540.52. Following the completion of the transaction, the insider now directly owns 138,993 shares in the company, valued at approximately $4,408,857.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chris Allexandre sold 1,028 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $32.23, for a total value of $33,132.44. Following the completion of the transaction, the vice president now owns 49,936 shares of the company’s stock, valued at $1,609,437.28. The disclosure for this sale can be found here. 1.24% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Greenwood Capital Associates LLC lifted 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 acquiring an additional 234 shares during the last quarter. Alliancebernstein L.P. lifted 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 acquiring an additional 158,917 shares during the last quarter. Northern Trust Corp lifted 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 acquiring an additional 37,579 shares during the last quarter. Legal & General Group Plc lifted 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 acquiring an additional 16,315 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Integrated Device Technology by 2.8% in the 2nd quarter. State Street Corp now owns 4,850,496 shares of the semiconductor company’s stock valued at $125,094,000 after acquiring an additional 129,876 shares during the last quarter. Institutional investors own 96.20% 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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