Integrated Device Technology (NASDAQ:IDTI) Rating Lowered to Hold at BidaskClub

Integrated Device Technology (NASDAQ:IDTI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday, January 16th.

A number of other analysts have also issued reports on the company. Craig Hallum lowered Integrated Device Technology from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Wednesday, October 17th. ValuEngine raised Integrated Device Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 19th. Finally, Zacks Investment Research reaffirmed a “sell” rating on shares of Integrated Device Technology in a research note on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Integrated Device Technology currently has an average rating of “Hold” and an average target price of $42.91.

Shares of IDTI opened at $48.37 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. Integrated Device Technology has a 12 month low of $27.09 and a 12 month high of $48.93. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 38.09, a price-to-earnings-growth ratio of 3.63 and a beta of 1.33.

Integrated Device Technology (NASDAQ:IDTI) last issued its quarterly earnings results on Monday, January 28th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.09). The firm had revenue of $240.59 million during the quarter, compared to analyst estimates of $236.64 million. Integrated Device Technology had a return on equity of 30.02% and a net margin of 11.68%. Research analysts anticipate that Integrated Device Technology will post 1.33 earnings per share for the current year.

A number of large investors have recently bought and sold shares of IDTI. First Hawaiian Bank raised its holdings in shares of Integrated Device Technology by 300.0% in the 4th quarter. First Hawaiian Bank now owns 560 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 420 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Integrated Device Technology by 4,743.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,461,697 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,410,867 shares during the period. Enlightenment Research LLC purchased a new stake in shares of Integrated Device Technology in the 4th quarter valued at $102,000. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Integrated Device Technology in the 3rd quarter valued at $107,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Integrated Device Technology by 713.3% in the 4th quarter. Meeder Asset Management Inc. now owns 4,091 shares of the semiconductor company’s stock valued at $199,000 after buying an additional 3,588 shares during the period. Institutional investors own 90.47% of the company’s stock.

Integrated Device Technology Company Profile

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.

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Analyst Recommendations for Integrated Device Technology (NASDAQ:IDTI)

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