The stock of Integrated Device Technology Inc (NASDAQ:IDTI) is a huge mover today! About 622,596 shares traded hands. Integrated Device Technology Inc (NASDAQ:IDTI) has risen 15.37% since March 1, 2016 and is uptrending. It has outperformed by 6.12% the S&P500.
The move comes after 9 months positive chart setup for the $3.06 billion company. It was reported on Oct, 4 by Barchart.com. We have $33.54 PT which if reached, will make NASDAQ:IDTI worth $1.41 billion more.
Analysts await Integrated Device Technology Inc (NASDAQ:IDTI) to report earnings on October, 24. They expect $0.26 earnings per share, down 10.34% or $0.03 from last year’s $0.29 per share. IDTI’s profit will be $34.64M for 22.09 P/E if the $0.26 EPS becomes a reality. After $0.30 actual earnings per share reported by Integrated Device Technology Inc for the previous quarter, Wall Street now forecasts -13.33% negative EPS growth.
Integrated Device Technology Inc (NASDAQ:IDTI) Ratings Coverage
Out of 14 analysts covering Integrated Device (NASDAQ:IDTI), 13 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 93% are positive. Integrated Device has been the topic of 21 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Wedbush given on Tuesday, February 2. The firm earned “Buy” rating on Thursday, September 29 by Roth Capital. The rating was upgraded by Zacks to “Hold” on Thursday, August 6. The rating was maintained by Craig Hallum on Tuesday, December 1 with “Buy”. As per Tuesday, December 15, the company rating was initiated by Pacific Crest. The stock of Integrated Device Technology Inc (NASDAQ:IDTI) has “Buy” rating given on Tuesday, October 27 by Dougherty & Company. The rating was initiated by Bank of America with “Buy” on Friday, September 18. Brean Capital initiated Integrated Device Technology Inc (NASDAQ:IDTI) on Monday, May 23 with “Buy” rating. JP Morgan initiated the shares of IDTI in a report on Thursday, August 18 with “Overweight” rating. Barclays Capital maintained Integrated Device Technology Inc (NASDAQ:IDTI) rating on Tuesday, August 2. Barclays Capital has “Underweight” rating and $19 price target.
According to Zacks Investment Research, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers.”
Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.28, from 0.67 in 2016Q1. The ratio is positive, as 45 funds sold all Integrated Device Technology Inc shares owned while 101 reduced positions. 41 funds bought stakes while 98 increased positions. They now own 117.48 million shares or 3.18% less from 121.33 million shares in 2016Q1.
Wellington Mgmt Gru Ltd Liability Partnership holds 0.01% or 1.29M shares in its portfolio. Qs Investors Lc owns 212,785 shares or 0.04% of their US portfolio. J Goldman And L P, a New York-based fund reported 47,000 shares. Moreover, Suntrust Banks has 0% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 35,342 shares. Pioneer Invest Mngmt Incorporated accumulated 239,089 shares or 0.02% of the stock. Panagora Asset Mngmt has 12,139 shares for 0% of their US portfolio. Segall Bryant Hamill Lc accumulated 0.82% or 1.54M shares. Gemmer Asset Management Limited Liability Com holds 0% or 298 shares in its portfolio. California State Teachers Retirement holds 0.01% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI) for 283,108 shares. Blackrock has 0% invested in the company for 101,940 shares. Ls Inv Advsrs Ltd Liability holds 0.01% or 8,151 shares in its portfolio. Rk Cap Management Limited Co owns 343,883 shares or 1.23% of their US portfolio. Pear Tree Advsrs has 0.91% invested in the company for 107,839 shares. Argentus Cap Management Limited Liability Corporation accumulated 5,358 shares or 0.05% of the stock. Airain Limited last reported 55,546 shares in the company.
Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 22 insider sales for $13.11 million net activity. The insider Shepard David sold 7,704 shares worth $175,921. MONTANA MARIO sold 15,508 shares worth $354,125. On Monday, May 16 BRANDALISE MATTHEW D sold $60,226 worth of the stock or 2,857 shares. $19,200 worth of Integrated Device Technology Inc (NASDAQ:IDTI) was sold by SCHOFIELD JOHN A. Chittipeddi Sailesh had sold 1,021 shares worth $21,523. On Monday, May 16 the insider WATERS GREGORY L sold $88,515. Another trade for 2,385 shares valued at $50,276 was made by FAN XIANZHI SEAN on Monday, May 16.
Another recent and important Integrated Device Technology Inc (NASDAQ:IDTI) news was published by Fool.com which published an article titled: “Why Integrated Device Technology, Inc. Fell 13% Today” on August 02, 2016.
IDTI Company Profile
Integrated Device Technology, Inc., incorporated on June 10, 1987, develops system-level solutions that optimize its customers’ applications. The Firm operates through two divisions: the Communications, and the Computing, Consumer and Industrial. The Firm 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 divisions. 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. The Firm offers solutions in designing communications, computing, consumer, automotive and industrial applications. The Firm markets its products to original equipment manufacturers (OEMs) through a range of channels, including direct sales, distributors, electronic manufacturing suppliers (EMSs) and independent sales representatives.
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