Analysts Expect Integrated Device Technology Inc (IDTI) to Post $0.49 EPS

Equities research analysts expect Integrated Device Technology Inc (NASDAQ:IDTI) to report earnings of $0.49 per share for the current quarter, Zacks reports. Two analysts have made estimates for Integrated Device Technology’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.51. Integrated Device Technology posted earnings per share of $0.46 during the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The company is scheduled to announce its next earnings results on Monday, April 29th.

On average, analysts expect that Integrated Device Technology will report full year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.88 to $1.92. For the next year, analysts forecast that the firm will post earnings of $2.16 per share, with EPS estimates ranging from $2.15 to $2.17. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last posted its quarterly earnings data on Monday, January 28th. The semiconductor company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Integrated Device Technology had a net margin of 11.68% and a return on equity of 30.02%. The firm had revenue of $240.59 million for the quarter, compared to analysts’ expectations of $236.64 million.

IDTI has been the subject of a number of analyst reports. BidaskClub lowered shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 9th. Charter Equity lowered shares of Integrated Device Technology from a “buy” rating to a “market perform” rating in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Integrated Device Technology has a consensus rating of “Hold” and an average target price of $42.91.

IDTI stock remained flat at $$48.99 during mid-day trading on Friday. 11,701,506 shares of the company’s stock were exchanged, compared to its average volume of 3,396,543. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.10. Integrated Device Technology has a 52 week low of $27.71 and a 52 week high of $49.00. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 3.72 and a beta of 1.22.

In other news, VP Chris Allexandre sold 2,569 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $48.31, for a total value of $124,108.39. Following the completion of the sale, the vice president now directly owns 101,640 shares of the company’s stock, valued at $4,910,228.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of IDTI. First Hawaiian Bank lifted its position in shares of Integrated Device Technology by 300.0% in the fourth quarter. First Hawaiian Bank now owns 560 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 420 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Integrated Device Technology by 4,743.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,461,697 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,410,867 shares in the last quarter. Enlightenment Research LLC purchased a new stake in shares of Integrated Device Technology in the fourth quarter worth approximately $102,000. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Integrated Device Technology in the third quarter worth approximately $107,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Integrated Device Technology by 713.3% in the fourth quarter. Meeder Asset Management Inc. now owns 4,091 shares of the semiconductor company’s stock worth $199,000 after purchasing an additional 3,588 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

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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