Integrated Device Technology (IDTI) Earning Favorable News Coverage, Study Shows
News articles about Integrated Device Technology (NASDAQ:IDTI) have been trending positive this week, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Integrated Device Technology earned a daily sentiment score of 0.25 on Accern’s scale. Accern also assigned news stories about the semiconductor company an impact score of 45.5209632078978 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- IDT announces milestone 30 million unit shipment of Qi wireless power transmitters (finance.yahoo.com)
- IDT to Showcase Live Demo of 200G PAM4 ICs for Datacenter Applications at ECOC 2017 – Marketwired (press release) (marketwired.com)
- Integrated Device Technology, Inc. (IDTI) registers a price change of 2.55% while AU Optronics Corp. (AUO) finishes … – Stocks Gallery (stocksgallery.com)
- Integrated Device Technology, Inc. (IDTI) Given Overweight Rating at KeyCorp (americanbankingnews.com)
IDTI has been the subject of several analyst reports. KeyCorp reissued a “buy” rating and issued a $30.00 price target on shares of Integrated Device Technology in a report on Friday, September 1st. Loop Capital reissued a “buy” rating and issued a $29.00 price target on shares of Integrated Device Technology in a report on Tuesday, August 22nd. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Bank of America Corporation downgraded 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 report on Tuesday, August 1st. Finally, Longbow Research initiated coverage on shares of Integrated Device Technology in a report on Friday, June 9th. They issued a “buy” rating and a $31.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Integrated Device Technology currently has an average rating of “Hold” and a consensus target price of $28.17.
Shares of Integrated Device Technology (NASDAQ IDTI) opened at 27.59 on Friday. The stock’s 50 day moving average is $24.68 and its 200 day moving average is $24.57. Integrated Device Technology has a 52-week low of $19.38 and a 52-week high of $27.80. The stock has a market cap of $3.68 billion, a PE ratio of 35.83 and a beta of 1.99.
Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.07). The firm had revenue of $196.71 million during the quarter, compared to the consensus estimate of $195.10 million. Integrated Device Technology had a return on equity of 20.34% and a net margin of 14.50%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. Equities research analysts forecast that Integrated Device Technology will post $1.49 earnings per share for the current year.
In related news, Director S Kenneth Kannappan bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $24.32 per share, for a total transaction of $48,640.00. Following the completion of the transaction, the director now owns 18,637 shares in the company, valued at $453,251.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mario Montana sold 20,374 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $24.43, for a total transaction of $497,736.82. Following the transaction, the vice president now owns 67,443 shares of the company’s stock, valued at approximately $1,647,632.49. The disclosure for this sale can be found here. 1.24% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for Integrated Device Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integrated Device Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.