Integrated Device Technology, Inc. (NASDAQ:IDTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “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. It offers a range of mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments. These products are used for development in areas, such as fourth generation (4G) infrastructure, network communications, cloud datacenters and power management for computing and mobile devices. It offers solutions in designing communications, computing, consumer, automotive and industrial applications. It markets its products to original equipment manufacturers (OEMs) through a range of channels, including direct sales, distributors and electronic manufacturing suppliers (EMSs). “

Several other equities research analysts also recently issued reports on IDTI. KeyCorp reiterated an “overweight” rating on shares of Integrated Device Technology in a research note on Thursday, September 14th. Barclays PLC reiterated an “underweight” rating on shares of Integrated Device Technology in a research note on Friday, July 21st. Bank of America Corporation downgraded shares of Integrated Device Technology from a “neutral” rating to an “underperform” rating and set a $27.00 price objective for the company. in a research note on Tuesday, August 1st. Needham & Company LLC reiterated a “buy” rating on shares of Integrated Device Technology in a research note on Tuesday, August 1st. Finally, Longbow Research assumed coverage on shares of Integrated Device Technology in a research note on Friday, June 9th. They set a “buy” rating and a $31.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.17.

Integrated Device Technology (IDTI) traded down 2.96% during mid-day trading on Friday, hitting $26.20. 3,601,866 shares of the stock traded hands. The firm’s 50-day moving average is $24.77 and its 200-day moving average is $24.63. Integrated Device Technology has a 12-month low of $19.38 and a 12-month high of $28.08. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 34.03 and a beta of 1.99.

Integrated Device Technology (NASDAQ:IDTI) last released its earnings results on Monday, July 31st. The semiconductor company reported $0.25 earnings per share (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 company had revenue of $196.71 million during the quarter, compared to analysts’ expectations of $195.10 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Integrated Device Technology’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that Integrated Device Technology will post $1.49 EPS for the current year.

WARNING: “Integrated Device Technology, Inc. (IDTI) Stock Rating Upgraded by Zacks Investment Research” was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/09/22/integrated-device-technology-inc-idti-stock-rating-upgraded-by-zacks-investment-research.html.

In other news, VP Mario Montana sold 20,374 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.43, for a total transaction of $497,736.82. Following the transaction, the vice president now directly owns 67,443 shares of the company’s stock, valued at $1,647,632.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director S Kenneth Kannappan bought 2,000 shares of Integrated Device Technology stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $453,251.84. The disclosure for this purchase can be found here. Insiders own 1.24% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of IDTI. Canada Pension Plan Investment Board lifted its position in shares of Integrated Device Technology by 480.3% during the first quarter. Canada Pension Plan Investment Board now owns 35,400 shares of the semiconductor company’s stock worth $838,000 after purchasing an additional 29,300 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Integrated Device Technology by 4.4% during the first quarter. Great West Life Assurance Co. Can now owns 78,748 shares of the semiconductor company’s stock worth $1,861,000 after purchasing an additional 3,330 shares in the last quarter. Suntrust Banks Inc. lifted its position in shares of Integrated Device Technology by 19.9% during the first quarter. Suntrust Banks Inc. now owns 17,130 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 2,843 shares in the last quarter. Swiss National Bank lifted its position in shares of Integrated Device Technology by 1.0% during the first quarter. Swiss National Bank now owns 221,000 shares of the semiconductor company’s stock worth $5,231,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Meadow Creek Investment Management LLC lifted its position in shares of Integrated Device Technology by 22.2% during the first quarter. Meadow Creek Investment Management LLC now owns 6,776 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 1,232 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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)

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.