Today The Barclays PLC Reaffirms Sell Rating for Integrated Device Technology, Inc. (IDTI)

Today The Barclays PLC Reaffirms Sell Rating for Integrated Device Technology, Inc. (IDTI)

Barclays PLC reissued their sell rating on shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) in a research report released on Friday morning. They currently have a $22.00 target price on the stock.

A number of other research firms have also issued reports on IDTI. Zacks Investment Research lowered shares of Integrated Device Technology from a buy rating to a hold rating in a report on Wednesday, October 12th. Needham & Company LLC reiterated a buy rating and set a $25.00 target price on shares of Integrated Device Technology in a report on Tuesday, November 1st. Loop Capital initiated coverage on shares of Integrated Device Technology in a report on Monday, December 5th. They set a buy rating and a $27.00 target price on the stock. Roth Capital initiated coverage on shares of Integrated Device Technology in a report on Wednesday, September 28th. They set a buy rating and a $26.00 target price on the stock. Finally, Pacific Crest reiterated an overweight rating and set a $30.00 target price on shares of Integrated Device Technology in a report on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Integrated Device Technology currently has an average rating of Buy and an average price target of $26.53.

Shares of Integrated Device Technology (NASDAQ:IDTI) opened at 25.82 on Friday. The stock’s 50 day moving average is $24.54 and its 200-day moving average is $22.24. Integrated Device Technology has a one year low of $16.22 and a one year high of $26.08. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 22.71 and a beta of 2.15.

Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The firm earned $184.10 million during the quarter, compared to analysts’ expectations of $183.99 million. Integrated Device Technology had a net margin of 21.49% and a return on equity of 25.09%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. On average, equities research analysts predict that Integrated Device Technology will post $1.39 EPS for the current fiscal year.

In other Integrated Device Technology news, VP Matthew D. Brandalise sold 9,500 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $25.53, for a total transaction of $242,535.00. Following the transaction, the vice president now directly owns 71,073 shares of the company’s stock, valued at approximately $1,814,493.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Norman P. Taffe sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $24.35, for a total transaction of $170,450.00. Following the transaction, the director now directly owns 30,957 shares in the company, valued at $753,802.95. The disclosure for this sale can be found here. Insiders have sold a total of 54,287 shares of company stock worth $1,354,259 over the last three months. 1.38% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of IDTI. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Integrated Device Technology by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,657 shares of the company’s stock valued at $108,000 after buying an additional 504 shares during the last quarter. Advisor Group Inc. purchased a new stake in shares of Integrated Device Technology during the second quarter valued at $114,000. LS Investment Advisors LLC increased its stake in shares of Integrated Device Technology by 72.7% in the second quarter. LS Investment Advisors LLC now owns 8,151 shares of the company’s stock valued at $164,000 after buying an additional 3,432 shares during the last quarter. Cantab Capital Partners LLP purchased a new stake in shares of Integrated Device Technology during the second quarter valued at $166,000. Finally, World Asset Management Inc purchased a new stake in shares of Integrated Device Technology during the third quarter valued at $202,000. 94.21% of the stock is currently owned by institutional investors.

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.

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