Shares of Integrated Device Technology Inc. (NASDAQ:IDTI) gapped up prior to trading on Tuesday . The stock had previously closed at $18.93, but opened at $18.96. Integrated Device Technology shares last traded at $19.14, with a volume of 968,543 shares traded.

A number of research firms have recently weighed in on IDTI. Bank of America Corp. raised shares of Integrated Device Technology from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, May 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price (up from $26.00) on shares of Integrated Device Technology in a research report on Tuesday, May 3rd. Brean Capital began coverage on shares of Integrated Device Technology in a research report on Monday, May 23rd. They issued a “buy” rating and a $26.00 target price on the stock. Dougherty & Co reduced their target price on shares of Integrated Device Technology from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Finally, Vetr downgraded shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating and set a $26.00 target price on the stock. in a research report on Monday, May 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Integrated Device Technology presently has a consensus rating of “Buy” and an average target price of $26.38.

The stock’s 50-day moving average is $20.65 and its 200-day moving average is $20.67. The company has a market cap of $2.57 billion and a price-to-earnings ratio of 15.55.

Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $192.10 million for the quarter, compared to the consensus estimate of $191.06 million. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. On average, equities analysts forecast that Integrated Device Technology Inc. will post $1.41 earnings per share for the current fiscal year.

In other news, CEO Gregory L. Waters sold 4,199 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $21.08, for a total transaction of $88,514.92. Following the transaction, the chief executive officer now owns 361,868 shares in the company, valued at $7,628,177.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian C. White sold 4,510 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $21.08, for a total value of $95,070.80. Following the transaction, the chief financial officer now owns 75,108 shares in the company, valued at approximately $1,583,276.64. The disclosure for this sale can be found here.

Several institutional investors have recently made changes to their positions in IDTI. US Bancorp DE raised its position in shares of Integrated Device Technology by 0.3% in the fourth quarter. US Bancorp DE now owns 45,466 shares of the company’s stock valued at $1,198,000 after buying an additional 114 shares in the last quarter. Dai Ichi Life Insurance CO. LTD. purchased a new position in shares of Integrated Device Technology during the fourth quarter valued at approximately $1,340,000. Suntrust Banks Inc. purchased a new position in shares of Integrated Device Technology during the fourth quarter valued at approximately $1,617,000. Redwood Investments LLC raised its position in shares of Integrated Device Technology by 38.9% in the fourth quarter. Redwood Investments LLC now owns 101,628 shares of the company’s stock valued at $2,678,000 after buying an additional 28,441 shares in the last quarter. Finally, Pear Tree Advisors Inc. purchased a new position in shares of Integrated Device Technology during the fourth quarter valued at approximately $2,842,000.

Integrated Device Technology, Inc (IDT) is a developer of mixed-signal semiconductor solutions. The Company offers semiconductors for communications infrastructure in both wired and wireless. It designs, develops, manufactures and markets a range of semiconductor. It operates in two segments: the Communications segment and the Computing and Consumer segment.

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