Integrated Device Technology Inc (IDTI) is Initiated by Needham to Buy, Price Target at $26

Integrated Device Technology Inc (IDTI) was Initiated by Needham to “Buy” and the brokerage firm has set the Price Target at $26. Needham advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Integrated Device Technology Inc. Shares were Reiterated by Chardan Capital Markets on Feb 8, 2016 to “Buy” and Lowered the Price Target to $ 28 from a previous price target of $34 .Shares were Reiterated by Topeka Capital Markets on Feb 2, 2016 to “Buy” and Lowered the Price Target to $ 26 from a previous price target of $29 .Integrated Device Technology Inc was Downgraded by BofA/Merrill to ” Neutral” on Feb 2, 2016.

On the company’s financial health, Integrated Device Technology Inc reported $0.35 EPS for the quarter, based on the information available during the earnings call on Feb 1, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $177.61 million for the quarter, compared to analysts expectations of $174.96 million. The company’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Integrated Device Technology Inc opened for trading at $19.84 and hit $20.55 on the upside on Friday, eventually ending the session at $20.36, with a gain of 2.44% or 0.485 points. The heightened volatility saw the trading volume jump to 16,11,169 shares. Company has a market cap of $2,756 M.

In a different news, on Apr 19, 2016, Sailesh Chittipeddi (Sr, VP of Operations and CTO) sold 2,844 shares at $20.29 per share price. According to the SEC, on Mar 23, 2016, Xianzhi Sean Fan (VP BUSINESS UNIT) sold 1,579 shares at $19.80 per share price. On Mar 22, 2016, Mario Montana (VP, CHIEF SALES OFFICER) sold 1,421 shares at $19.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Integrated Device Technology Inc. (IDT) is a developer of mixed-signal semiconductor solutions. The Company offers semiconductors for communications infrastructure in both wired and wireless. It designs develops manufactures and markets a range of semiconductor. It operates in two segments: the Communications segment and the Computing and Consumer segment. Its Communications segment includes clock and timing solutions flow-control management devices including Serial RapidIO switching solutions and radio frequency (RF) products. Its Computing and Consumer segment includes clock generation and distribution products server memory interface products PCI Express switching solutions power management solutions and signal integrity products. It offers communications timing products serial rapidIO solutions RF products consumer and computing timing products memory interface products PCI express switching solutions power management solutions and signal integrity products.

Integrated Device Technology Inc

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