Integrated Device Technology Inc (IDTI) Expected to Announce Earnings of $0.46 Per Share

Equities analysts expect that Integrated Device Technology Inc (NASDAQ:IDTI) will post earnings per share (EPS) of $0.46 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Integrated Device Technology’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.48. Integrated Device Technology posted earnings per share of $0.42 in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The company is scheduled to issue its next earnings results on Monday, February 4th.

On average, analysts expect that Integrated Device Technology will report full year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.81 to $1.89. For the next year, analysts expect that the firm will report earnings of $2.10 per share, with EPS estimates ranging from $2.06 to $2.15. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Integrated Device Technology.

Integrated Device Technology (NASDAQ:IDTI) last announced its earnings results on Monday, October 29th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $235.48 million during the quarter, compared to analysts’ expectations of $234.07 million. Integrated Device Technology had a net margin of 2.06% and a return on equity of 29.69%.

A number of brokerages recently issued reports on IDTI. Craig Hallum increased their target price on shares of Integrated Device Technology from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. BidaskClub cut shares of Integrated Device Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Needham & Company LLC boosted their target price on shares of Integrated Device Technology from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Susquehanna Bancshares reissued a “neutral” rating and issued a $49.00 target price (up previously from $42.00) on shares of Integrated Device Technology in a research report on Tuesday, September 11th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $37.50 target price on shares of Integrated Device Technology in a research report on Tuesday, July 31st. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.91.

In related news, SVP Sailesh Chittipeddi sold 33,300 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $47.01, for a total transaction of $1,565,433.00. Following the completion of the sale, the senior vice president now owns 193,095 shares of the company’s stock, valued at $9,077,395.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Waters sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $42.63, for a total transaction of $852,600.00. Following the sale, the chief executive officer now directly owns 790,370 shares of the company’s stock, valued at approximately $33,693,473.10. The disclosure for this sale can be found here. In the last three months, insiders sold 56,300 shares of company stock valued at $2,545,983. 1.23% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alpine Associates Management Inc. bought a new stake in Integrated Device Technology during the third quarter worth about $95,985,000. Ontario Teachers Pension Plan Board lifted its position in Integrated Device Technology by 353.7% during the third quarter. Ontario Teachers Pension Plan Board now owns 60,000 shares of the semiconductor company’s stock worth $2,821,000 after purchasing an additional 46,774 shares during the period. FIL Ltd bought a new stake in Integrated Device Technology during the third quarter worth about $51,711,000. American International Group Inc. lifted its position in Integrated Device Technology by 0.7% during the third quarter. American International Group Inc. now owns 346,622 shares of the semiconductor company’s stock worth $16,295,000 after purchasing an additional 2,434 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Integrated Device Technology by 68.9% during the third quarter. Alliancebernstein L.P. now owns 354,638 shares of the semiconductor company’s stock worth $16,672,000 after purchasing an additional 144,632 shares during the period. 95.87% of the stock is owned by institutional investors and hedge funds.

Shares of Integrated Device Technology stock traded down $0.15 during mid-day trading on Monday, reaching $46.75. 1,486,258 shares of the stock were exchanged, compared to its average volume of 2,470,151. The stock has a market capitalization of $6.05 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 3.23 and a beta of 1.69. The company has a quick ratio of 4.17, a current ratio of 4.65 and a debt-to-equity ratio of 0.77. Integrated Device Technology has a fifty-two week low of $26.96 and a fifty-two week high of $47.45.

Integrated Device Technology Company Profile

Integrated Device Technology, Inc designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. It operates in two segments, Communications; and Computing, Consumer and Industrial. The Communications segment offers clocks and timing solutions; radio frequency products; flow-control management products, including multi-port products; telecommunication interface products; static random access memory products; first in and first out memories; digital logic products; optical interconnect and frequency control solutions; and Serial RapidIO switching solutions.

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