Is Integrated Device Technology (NASDAQ:IDTI) Finally Worth Your Time? What Does Pacific Crest Think?


Why Has Pacific Crest Given Integrated Device Technology (NASDAQ:IDTI) a $32.00 Price Target

In a comprehensive report issued to investors and clients today, Pacific Crest analysts initiated Integrated Device Technology (NASDAQ:IDTI) coverage with “Overweight” rating, and a $32.00 price target.

From a total of 10 analysts covering Integrated Device (NASDAQ:IDTI) stock, 8 rate it a ”Buy”, 1 a “Sell”, and 1 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $37 while the lowest target price is $21. The mean of all analyst targets is $31 with a 1.84% above today’s ($27.66) stock price. Integrated Device was the topic of 10 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Craig Hallum maintained shares on December 9 with “Buy” rating. Chardan Capital Markets maintained shares with “Buy” rating and $32 target share price in a report from an August 4. Charter Equity initiated IDTI stock in a recent report from October 26 with “Buy” rating. Finally, Zacks upgraded the stock to “Hold” rating in a report issued on an August 6.

Approximately 1.53M shares of stock traded hands. Integrated Device Technology Inc (NASDAQ:IDTI) has risen 27.79% since May 12, 2015 and is uptrending. It has outperformed by 31.47% the S&P500.

The overall sentiment of institutions has decreased to 0.87 in Q2 2015. Its down 0.42, from 1.29 in 2015Q2. The ratio fall, as 53 institutions have sold all the shares of Integrated Device Technology Inc that they owned while 110 funds have taken shares off the table. 37 funds have purchased shares for the first time while 105 added to their positions. These institutions now hold 136.21 million shares or 3.90% less than the 141.74 million shares they owned in 2015Q2.

The Fund Sarbit Advisory Services Inc. currently is holding shares equating to 19.25% of its total portfolio in Integrated Device Technology Inc representing a total of 6.14 million shares. Another fund,Venator Capital Management Ltd., is holding a total of 452,665 shares equating to 12.72% of their holdings. Additionally, Bodri Capital Management Llc has a 125,000 share stake in Integrated Device Technology Inc which represents 2.52% of their total portfolio. The Fund, Msf Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 2.31% of their total portfolio. Finally Nichols Asset Management Llc, a fund which is based in the state of Massachusetts reported a total holdings of 435,285 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 11, 2015, shareholders of Integrated Device Technology Inc have witnessed 0 insider purchases, and a total of 5 selling transactions equating to a net activity of approximately $1.76 million . Naghavi Arman sold 10,570 shares worth approximately $209,075. Montana Mario sold 7,928 shares worth approximately $156,816. Fan Xianzhi Sean sold 7,928 shares worth approximately $156,816. Smith Ronald James sold 10,000 shares worth approximately $206,600. The company insider White Brian C sold 1,250 shares worth $29,674.

Integrated Device Technology, Inc. is a developer of mixed-signal semiconductor solutions. The company has a market cap of $4.02 billion. The Firm offers semiconductors for communications infrastructure in both wired and wireless. It has 27.5 P/E ratio. It designs, develops, makes and markets a range of semiconductor.

According to Zacks Investment Research, “Integrated Device Technology, Inc. designs, develops, manufactures and markets a broad range of high-performance semiconductor products and modules. Applications for the company’s products include data and telecommunications equipment, such as routers, hubs, switches, cellular base stations and other devices; personal computers; and networked peripherals and servers, such as RAID arrays, servers, and printers.”