Integrated Device Technology Inc (IDTI) is Upgraded by BofA/Merrill to Buy

Integrated Device Technology Inc (IDTI) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on May 11, 2016.

Many Wall Street Analysts have commented on Integrated Device Technology Inc. Needham Initiated Integrated Device Technology Inc on Apr 25, 2016 to “Buy”, Price Target of the shares are set at $26.

On the company’s financial health, Integrated Device Technology Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.33. The company had revenue of $189.40 million for the quarter, compared to analysts expectations of $187.06 million. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Integrated Device Technology Inc opened for trading at $20.45 and hit $20.58 on the upside on Tuesday, eventually ending the session at $20.5, with a gain of 0.69% or 0.14 points. The heightened volatility saw the trading volume jump to 21,71,913 shares. Company has a market cap of $2,775 M.

In a different news, on May 9, 2016, Gordon W Parnell (director) sold 12,500 shares at $20.21 per share price. According to the SEC, on Apr 19, 2016, Sailesh Chittipeddi (Sr, VP of Operations and CTO) sold 2,844 shares at $20.29 per share price. On Mar 23, 2016, Xianzhi Sean Fan (VP BUSINESS UNIT) sold 1,579 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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