Integrated Device Technology Inc (IDTI) Releases Earnings Results, Beats Expectations By $0.03 EPS

Integrated Device Technology Inc (IDTI) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.33. The company posted revenue of $189.40 million in the period, 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.

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.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 .

Integrated Device Technology Inc opened for trading at $20.62 and hit $21.15 on the upside on Wednesday, eventually ending the session at $20.91, with a gain of 0.92% or 0.19 points. The heightened volatility saw the trading volume jump to 11,54,324 shares. Company has a market cap of $2,831 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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