Needham & Company LLC reissued their buy rating on shares of Integrated Device Technology Inc. (NASDAQ:IDTI) in a research report released on Friday morning. The brokerage currently has a $25.00 price objective on the stock.

Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Integrated Device Technology in a research note on Thursday, August 18th. They issued an overweight rating and a $26.00 target price on the stock. Zacks Investment Research lowered shares of Integrated Device Technology from a hold rating to a strong sell rating in a research note on Saturday, August 6th. Brean Capital reiterated a buy rating and issued a $23.00 target price (down from $26.00) on shares of Integrated Device Technology in a research note on Wednesday, August 3rd. Charter Equity lowered shares of Integrated Device Technology from a buy rating to a mkt perform rating in a research note on Tuesday, August 2nd. Finally, Vetr lowered 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 note on Monday, May 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $26.36.

Shares of Integrated Device Technology (NASDAQ:IDTI) opened at 20.90 on Friday. Integrated Device Technology has a 12 month low of $16.22 and a 12 month high of $29.04. The company’s 50 day moving average is $19.96 and its 200-day moving average is $20.74. The company has a market cap of $2.81 billion, a P/E ratio of 16.95 and a beta of 1.99.

Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Integrated Device Technology had a net margin of 24.36% and a return on equity of 25.27%. The business had revenue of $192.10 million for the quarter, compared to analyst estimates of $191.06 million. During the same period last year, the business posted $0.31 EPS. Integrated Device Technology’s revenue was up 19.4% compared to the same quarter last year. Analysts expect that Integrated Device Technology will post $1.41 EPS for the current fiscal year.

In other news, VP Mario Montana sold 217,254 shares of Integrated Device Technology stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $19.72, for a total transaction of $4,284,248.88. Following the completion of the sale, the vice president now owns 144,260 shares in the company, valued at approximately $2,844,807.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.38% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its position in shares of Integrated Device Technology by 284.6% in the first quarter. Canada Pension Plan Investment Board now owns 581,199 shares of the company’s stock worth $11,880,000 after buying an additional 430,100 shares in the last quarter. NWQ Investment Management Company LLC boosted its position in shares of Integrated Device Technology by 86.8% in the first quarter. NWQ Investment Management Company LLC now owns 1,441,171 shares of the company’s stock worth $29,458,000 after buying an additional 669,500 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new position in shares of Integrated Device Technology during the first quarter worth about $102,000. Royce & Associates LP boosted its position in shares of Integrated Device Technology by 118.1% in the first quarter. Royce & Associates LP now owns 386,100 shares of the company’s stock worth $7,892,000 after buying an additional 209,100 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in shares of Integrated Device Technology during the first quarter worth about $272,000. Hedge funds and other institutional investors own 89.96% 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.

5 Day Chart for NASDAQ:IDTI

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