KeyCorp reaffirmed their overweight rating on shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) in a research report report published on Thursday morning.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC lifted their price objective on shares of Integrated Device Technology from $28.00 to $32.00 and gave the company a buy rating in a research report on Friday, June 16th. BidaskClub downgraded shares of Integrated Device Technology from a strong-buy rating to a buy rating in a research report on Thursday, June 15th. Longbow Research started coverage on shares of Integrated Device Technology in a research report on Friday, June 9th. They issued a buy rating and a $31.00 price objective for the company. Zacks Investment Research raised shares of Integrated Device Technology from a hold rating to a buy rating and set a $29.00 price objective for the company in a research report on Wednesday, July 5th. Finally, Loop Capital reissued a buy rating and issued a $29.00 price objective on shares of Integrated Device Technology in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Integrated Device Technology presently has an average rating of Hold and a consensus price target of $28.17.

Integrated Device Technology (NASDAQ:IDTI) traded up 0.40% on Thursday, reaching $27.59. 2,281,682 shares of the company’s stock were exchanged. The firm has a market cap of $3.68 billion, a PE ratio of 35.83 and a beta of 1.99. Integrated Device Technology has a 12 month low of $19.38 and a 12 month high of $28.00. The firm’s 50-day moving average is $24.68 and its 200-day moving average is $24.57.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, July 31st. The semiconductor company reported $0.25 EPS 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 firm had revenue of $196.71 million during the quarter, compared to the consensus estimate of $195.10 million. During the same period last year, the business earned $0.36 EPS. The business’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 20,374 shares of Integrated Device Technology stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $24.43, for a total value of $497,736.82. Following the completion of the sale, the vice president now owns 67,443 shares in the company, valued at approximately $1,647,632.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director S Kenneth Kannappan acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $24.32 per share, with a total value of $48,640.00. Following the purchase, the director now directly owns 18,637 shares in the company, valued at $453,251.84. The disclosure for this purchase can be found here. 1.24% of the stock is owned by insiders.

Several large investors have recently modified their holdings of IDTI. Russell Investments Group Ltd. raised its position in shares of Integrated Device Technology by 1,353.2% in the 1st quarter. Russell Investments Group Ltd. now owns 332,273 shares of the semiconductor company’s stock valued at $7,865,000 after buying an additional 309,408 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Integrated Device Technology by 1.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,789 shares of the semiconductor company’s stock valued at $1,107,000 after buying an additional 600 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Integrated Device Technology by 480.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 35,400 shares of the semiconductor company’s stock valued at $838,000 after buying an additional 29,300 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Integrated Device Technology by 4.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 78,748 shares of the semiconductor company’s stock valued at $1,861,000 after buying an additional 3,330 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in shares of Integrated Device Technology by 0.4% in the 1st quarter. State Treasurer State of Michigan now owns 54,220 shares of the semiconductor company’s stock valued at $1,283,000 after buying an additional 200 shares in the last quarter. Institutional investors own 95.90% 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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