Analysts Anticipate Integrated Device Technology (IDTI) to Announce $0.44 Earnings Per Share

Wall Street analysts expect Integrated Device Technology (NASDAQ:IDTI) to report earnings per share of $0.44 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Integrated Device Technology’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.45. Integrated Device Technology reported earnings per share of $0.35 in the same quarter last year, which would suggest a positive year over year growth rate of 25.7%. The firm is expected to report 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 earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.54. For the next financial year, analysts anticipate that the company will report earnings of $1.75 per share, with EPS estimates ranging from $1.70 to $1.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Integrated Device Technology.

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Integrated Device Technology (NASDAQ:IDTI) last posted its earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $217.10 million for the quarter, compared to analysts’ expectations of $215.32 million. During the same quarter in the prior year, the business earned $0.35 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year.

Several research firms have recently commented on IDTI. BidaskClub lowered shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. ValuEngine raised shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Piper Jaffray initiated coverage on shares of Integrated Device Technology in a report on Monday, February 26th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, KeyCorp increased their target price on shares of Integrated Device Technology from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $34.08.

Shares of NASDAQ IDTI traded down $0.05 during midday trading on Friday, hitting $29.48. 839,783 shares of the company’s stock traded hands, compared to its average volume of 1,305,860. Integrated Device Technology has a 1 year low of $22.70 and a 1 year high of $34.13. The firm has a market capitalization of $3,911.90, a P/E ratio of 25.34, a PEG ratio of 2.21 and a beta of 1.83. The company has a quick ratio of 5.01, a current ratio of 5.62 and a debt-to-equity ratio of 0.69.

In related news, SVP Sailesh Chittipeddi sold 25,000 shares of the firm’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $32.37, for a total value of $809,250.00. Following the completion of the sale, the senior vice president now directly owns 178,078 shares in the company, valued at $5,764,384.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Waters sold 15,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $30.22, for a total value of $453,300.00. Following the completion of the sale, the chief executive officer now owns 732,552 shares of the company’s stock, valued at $22,137,721.44. The disclosure for this sale can be found here. Insiders have sold a total of 115,380 shares of company stock valued at $3,564,303 over the last quarter. Corporate insiders own 1.24% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Advisors LLC increased its stake in shares of Integrated Device Technology by 0.6% during the fourth quarter. Teachers Advisors LLC now owns 374,169 shares of the semiconductor company’s stock valued at $11,124,000 after buying an additional 2,196 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of Integrated Device Technology by 17.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 15,904 shares of the semiconductor company’s stock valued at $473,000 after buying an additional 2,324 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Integrated Device Technology by 47.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,623 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 2,441 shares during the period. Congress Asset Management Co. MA increased its stake in shares of Integrated Device Technology by 1.3% during the fourth quarter. Congress Asset Management Co. MA now owns 257,142 shares of the semiconductor company’s stock valued at $7,645,000 after buying an additional 3,309 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Integrated Device Technology by 21.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 20,646 shares of the semiconductor company’s stock valued at $614,000 after buying an additional 3,675 shares during the period. Institutional investors own 97.10% of the company’s stock.

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About Integrated Device Technology

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and Internet-of-things end-markets. It operates in two segments, Communications; and Computing, Consumer, and Industrial.

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