$222.77 Million in Sales Expected for Integrated Device Technology Inc (IDTI) This Quarter

Analysts expect that Integrated Device Technology Inc (NASDAQ:IDTI) will post $222.77 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Integrated Device Technology’s earnings. The lowest sales estimate is $222.00 million and the highest is $223.30 million. Integrated Device Technology reported sales of $175.70 million during the same quarter last year, which would suggest a positive year over year growth rate of 26.8%. The business is expected to announce its next earnings report after the market closes on Monday, April 30th.

According to Zacks, analysts expect that Integrated Device Technology will report full-year sales of $222.77 million for the current financial year, with estimates ranging from $840.20 million to $841.50 million. For the next financial year, analysts expect that the company will post sales of $921.25 million per share, with estimates ranging from $910.00 million to $935.24 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. Integrated Device Technology had a negative net margin of 0.33% and a positive return on equity of 20.26%. The company had revenue of $217.10 million during the quarter, compared to the consensus estimate of $215.32 million. During the same period in the prior year, the firm earned $0.35 earnings per share. Integrated Device Technology’s revenue was up 23.1% on a year-over-year basis.



A number of brokerages have weighed in on IDTI. Barclays raised shares of Integrated Device Technology from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $28.00 to $33.00 in a research note on Wednesday, January 17th. BidaskClub raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. KeyCorp reaffirmed a “buy” rating on shares of Integrated Device Technology in a research note on Monday, January 29th. Craig Hallum reaffirmed a “buy” rating and set a $40.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a research note on Tuesday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price (up previously from $36.00) on shares of Integrated Device Technology in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $33.36.

IDTI stock traded up $0.42 during trading on Friday, reaching $31.78. The company had a trading volume of 1,108,184 shares, compared to its average volume of 1,334,900. Integrated Device Technology has a 52 week low of $22.70 and a 52 week high of $34.13. The company has a market cap of $4,072.02, a P/E ratio of 27.88, a PEG ratio of 2.30 and a beta of 1.83. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.62 and a quick ratio of 5.01.

In related news, VP Chris Allexandre sold 2,721 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $32.08, for a total transaction of $87,289.68. Following the completion of the sale, the vice president now owns 47,215 shares of the company’s stock, valued at $1,514,657.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian C. White sold 23,297 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $34.00, for a total transaction of $792,098.00. Following the sale, the senior vice president now directly owns 131,272 shares of the company’s stock, valued at approximately $4,463,248. The disclosure for this sale can be found here. Insiders have sold 150,349 shares of company stock valued at $4,747,248 in the last three months. 1.24% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its position in shares of Integrated Device Technology by 11.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 5,777,958 shares of the semiconductor company’s stock valued at $171,779,000 after acquiring an additional 614,235 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Integrated Device Technology by 1.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,022,314 shares of the semiconductor company’s stock valued at $60,123,000 after acquiring an additional 30,489 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Integrated Device Technology by 3.5% during the fourth quarter. Rice Hall James & Associates LLC now owns 1,497,827 shares of the semiconductor company’s stock valued at $44,530,000 after acquiring an additional 50,100 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Integrated Device Technology by 2.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 1,353,283 shares of the semiconductor company’s stock valued at $40,233,000 after acquiring an additional 35,424 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Integrated Device Technology by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,171,458 shares of the semiconductor company’s stock valued at $34,827,000 after acquiring an additional 5,727 shares in the last quarter. 97.15% of the stock is owned by institutional investors.

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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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