BidaskClub downgraded shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) from a buy rating to a hold rating in a research report sent to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Integrated Device Technology from a hold rating to a sell rating in a research report on Thursday. Needham & Company LLC reissued a buy rating on shares of Integrated Device Technology in a research report on Tuesday, August 1st. Bank of America Corporation cut shares of Integrated Device Technology from a neutral rating to an underperform rating and set a $27.00 price target for the company. in a research report on Tuesday, August 1st. Barclays PLC reissued an underweight rating on shares of Integrated Device Technology in a research report on Friday, July 21st. Finally, Susquehanna Bancshares Inc boosted their price target on shares of Integrated Device Technology from $30.00 to $33.00 and gave the company a positive rating in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $27.67.

Integrated Device Technology (NASDAQ:IDTI) traded up 0.04% during trading on Friday, hitting $24.20. The company had a trading volume of 1,567,779 shares. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 31.43 and a beta of 1.97. The firm’s 50 day moving average is $25.65 and its 200-day moving average is $24.66. Integrated Device Technology has a 52-week low of $18.49 and a 52-week high of $27.09.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.07. Integrated Device Technology had a net margin of 14.50% and a return on equity of 20.34%. The company had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $195.10 million. During the same period last year, the firm earned $0.36 earnings per share. Integrated Device Technology’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Integrated Device Technology will post $1.49 earnings per share for the current year.

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In other Integrated Device Technology news, VP Mario Montana sold 4,305 shares of Integrated Device Technology stock in a transaction on Monday, May 15th. The shares were sold at an average price of $24.04, for a total value of $103,492.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Matthew D. Brandalise sold 14,876 shares of Integrated Device Technology stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $25.91, for a total transaction of $385,437.16. Following the completion of the transaction, the vice president now owns 91,260 shares in the company, valued at $2,364,546.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,016 shares of company stock worth $7,089,245. 1.38% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of IDTI. Israel Discount Bank of New York acquired a new position in Integrated Device Technology during the first quarter worth approximately $103,000. TrimTabs Asset Management LLC raised its position in Integrated Device Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 4,745 shares of the semiconductor company’s stock worth $112,000 after buying an additional 2,232 shares in the last quarter. Elkfork Partners LLC raised its position in Integrated Device Technology by 22.2% in the first quarter. Elkfork Partners LLC now owns 5,324 shares of the semiconductor company’s stock worth $126,000 after buying an additional 968 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new position in Integrated Device Technology during the second quarter worth approximately $152,000. Finally, Meadow Creek Investment Management LLC raised its position in Integrated Device Technology by 22.2% in the first quarter. Meadow Creek Investment Management LLC now owns 6,776 shares of the semiconductor company’s stock worth $160,000 after buying an additional 1,232 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

About Integrated Device Technology

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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