Integrated Device Technology Inc (IDTI) to Post Q1 2018 Earnings of $0.25 Per Share, Dougherty & Co Forecasts

Integrated Device Technology Inc (IDTI) to Post Q1 2018 Earnings of $0.25 Per Share, Dougherty & Co Forecasts

Integrated Device Technology Inc (NASDAQ:IDTI) – Stock analysts at Dougherty & Co issued their Q1 2018 earnings per share estimates for shares of Integrated Device Technology in a research report issued to clients and investors on Tuesday. Dougherty & Co analyst C. Anderson expects that the semiconductor company will post earnings of $0.25 per share for the quarter. Dougherty & Co also issued estimates for Integrated Device Technology’s Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.39 EPS and FY2018 earnings at $1.20 EPS.

A number of other brokerages have also recently commented on IDTI. Summit Redstone cut shares of Integrated Device Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price (up from $25.00) on shares of Integrated Device Technology in a research report on Tuesday, January 31st. Loop Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Integrated Device Technology in a research report on Tuesday, January 31st. Bank of America Corp cut shares of Integrated Device Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, February 16th. Finally, Zacks Investment Research cut shares of Integrated Device Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Integrated Device Technology has a consensus rating of “Buy” and a consensus price target of $26.13.

Shares of Integrated Device Technology (NASDAQ:IDTI) traded up 1.09% during mid-day trading on Friday, reaching $23.24. 887,455 shares of the company’s stock were exchanged. The stock has a market capitalization of $3.10 billion, a PE ratio of 19.83 and a beta of 2.11. Integrated Device Technology has a 1-year low of $18.49 and a 1-year high of $26.66. The company’s 50 day moving average is $23.67 and its 200 day moving average is $23.93.

Integrated Device Technology (NASDAQ:IDTI) last announced its quarterly earnings data on Monday, May 1st. The semiconductor company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $175.70 million for the quarter, compared to the consensus estimate of $175.05 million. Integrated Device Technology had a net margin of 21.82% and a return on equity of 23.43%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS.

In other Integrated Device Technology news, VP Xianzhi Sean Fan sold 84,375 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $24.49, for a total transaction of $2,066,343.75. Following the sale, the vice president now owns 179,691 shares of the company’s stock, valued at $4,400,632.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Sailesh Chittipeddi sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $23.21, for a total transaction of $65,777.14. Following the sale, the senior vice president now directly owns 172,633 shares in the company, valued at approximately $4,006,811.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,209 shares of company stock worth $2,276,061. 1.38% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in IDTI. Rothschild Asset Management Inc. boosted its stake in Integrated Device Technology by 18.0% in the third quarter. Rothschild Asset Management Inc. now owns 883,509 shares of the semiconductor company’s stock worth $20,409,000 after buying an additional 134,744 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Integrated Device Technology by 112.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 4,506,071 shares of the semiconductor company’s stock worth $106,163,000 after buying an additional 2,380,645 shares during the last quarter. Century Capital Management LLC boosted its position in shares of Integrated Device Technology by 2.5% in the fourth quarter. Century Capital Management LLC now owns 262,604 shares of the semiconductor company’s stock worth $6,187,000 after buying an additional 6,327 shares during the last quarter. Comerica Bank boosted its position in shares of Integrated Device Technology by 75.8% in the fourth quarter. Comerica Bank now owns 250,980 shares of the semiconductor company’s stock worth $6,314,000 after buying an additional 108,248 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Integrated Device Technology by 27.3% in the third quarter. BlackRock Inc. now owns 129,817 shares of the semiconductor company’s stock worth $2,999,000 after buying an additional 27,877 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

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.

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