Price Change to Note: Is Integrated Device Technology Inc’s Fuel Running Low? The Stock Just Declined Again

Price Change to Note: Is Integrated Device Technology Inc's Fuel Running Low? The Stock Just Declined Again

The stock of Integrated Device Technology Inc (NASDAQ:IDTI) is a huge mover today! The stock decreased 6.70% or $1.68 during the last trading session, hitting $23.4. About 3.47 million shares traded hands or 59.91% up from the average. Integrated Device Technology Inc (NASDAQ:IDTI) has risen 19.94% since April 27, 2016 and is uptrending. It has outperformed by 14.72% the S&P500.
The move comes after 5 months negative chart setup for the $3.11 billion company. It was reported on Nov, 30 by Barchart.com. We have $22.00 PT which if reached, will make NASDAQ:IDTI worth $186.60 million less.

Analysts await Integrated Device Technology Inc (NASDAQ:IDTI) to report earnings on February, 6. They expect $0.26 EPS, down 13.33% or $0.04 from last year’s $0.3 per share. IDTI’s profit will be $34.56 million for 22.50 P/E if the $0.26 EPS becomes a reality. After $0.28 actual EPS reported by Integrated Device Technology Inc for the previous quarter, Wall Street now forecasts -7.14% 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 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Integrated Device Technology Inc (NASDAQ:IDTI) has “Overweight” rating given on Thursday, August 18 by JP Morgan. The rating was initiated by Roth Capital with “Buy” on Thursday, September 29. Charter Equity upgraded the shares of IDTI in a report on Wednesday, November 2 to “Buy” rating. The firm has “Buy” rating given on Wednesday, May 11 by Bank of America. TH Capital initiated the stock with “Buy” rating in Thursday, September 29 report. As per Friday, September 18, the company rating was initiated by Bank of America. As per Tuesday, October 27, the company rating was maintained by Dougherty & Company. The rating was maintained by Topeka Capital Markets on Tuesday, February 2 with “Buy”. As per Tuesday, February 2, the company rating was upgraded by Wedbush. Brean Capital initiated Integrated Device Technology Inc (NASDAQ:IDTI) on Monday, May 23 with “Buy” rating.

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 decreased to 0.94 in Q2 2016. Its down 0.01, from 0.95 in 2016Q1. The ratio worsened, 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.
The Japan-based Blackrock Japan has invested 0% in Integrated Device Technology Inc (NASDAQ:IDTI). Millennium Management Ltd Co holds 0.01% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI) for 281,207 shares. Pioneer Invest Management last reported 0.02% of its portfolio in the stock. Agf Invests owns 100,000 shares or 0.02% of their US portfolio. The Ontario – Canada-based Bancshares Of Montreal Can has invested 0% in Integrated Device Technology Inc (NASDAQ:IDTI). Ftb Advsrs last reported 0% of its portfolio in the stock. Clearbridge Invests Limited Liability Corp accumulated 2.24M shares or 0.05% of the stock. Alps Advsrs holds 0% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI) for 20,004 shares. Blackrock accumulated 0% or 101,940 shares. Rhumbline Advisers has invested 0.02% of its portfolio in Integrated Device Technology Inc (NASDAQ:IDTI). Moreover, Legg Mason Asset Mgmt (Japan) Limited has 0.54% invested in Integrated Device Technology Inc (NASDAQ:IDTI) for 24,800 shares. Cornerstone Capital Management Holdg Ltd Liability reported 29,957 shares or 0% of all its holdings. Fmr Ltd accumulated 344,400 shares or 0% of the stock. Glenmede Tru Company Na reported 1.69 million shares or 0.21% of all its holdings. Calvert Inv Mngmt reported 126,611 shares or 0.13% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 11 selling transactions for $9.99 million net activity. $175,921 worth of Integrated Device Technology Inc (NASDAQ:IDTI) shares were sold by Shepard David. Another trade for 19,194 shares valued at $438,295 was sold by Chittipeddi Sailesh. MONTANA MARIO also sold $354,125 worth of Integrated Device Technology Inc (NASDAQ:IDTI) shares. Another trade for 1,000 shares valued at $19,200 was made by SCHOFIELD JOHN A on Friday, August 12. The insider Taffe Norman P sold $170,450. On Wednesday, June 1 the insider FAN XIANZHI SEAN sold $1.17 million. The insider WATERS GREGORY L sold $3.66 million.

More important recent Integrated Device Technology Inc (NASDAQ:IDTI) news were published by: Fool.com which released: “Why Integrated Device Technology Inc. Stock Soared Today” on November 01, 2016, also Fool.com published article titled: “Why Integrated Device Technology, Inc. Fell 13% Today”, Reuters.com published: “BRIEF-Integrated device technology inc signed agreement with future electr…” on November 14, 2016. More interesting news about Integrated Device Technology Inc (NASDAQ:IDTI) was released by: Nasdaq.com and their article: “Integrated Device Technology Reaches Analyst Target Price” with publication date: November 21, 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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