Company Update (NASDAQ:IDTI): Integrated Device Technology Inc to Demonstrate In-Car Wireless Charging at CES 2017


Integrated Device Technology Inc (NASDAQ:IDTI) announced it will demonstrate at CES 2017 an advanced in-car wireless power application that enables automobile and equipment manufacturers to conveniently and safely build the popular feature into cars. Developed around the IDT high-efficiency 15W transmitter, the demonstration showcases how the technology can be elegantly built into front-seat consoles or back seating areas to deliver seamless wireless charging on the go. The demonstration is the product of collaboration between IDT and Eggtronic, a leading innovator of wireless power products.

The demonstration emulates a real car environment, with the phone display and charging status mirrored onto the auto infotainment panel. The 15W transmitter, currently undergoing AECQ100 and WPC Qi certifications, delivers power for a fast charge and is compatible with existing wireless power receivers. The demonstration will be shown at CES 2017 this week in Las Vegas at IDT”s booth, Sands Halls A-D 40736.

“Automotive forms a critical part of the wireless power ecosystem and enabler of further adoption – providing customers with ubiquitous charging from home, in-car and in the office,” said Chris Stephens, general manager of IDT’s Wireless Power Division. “IDT intends to leverage our success and expertise from the smartphone and wearables market to the automotive market, and this demonstration at CES shows our path.”

“IDT is an ideal partner for delivering wireless power to the automobile market, given their expertise and success in the wireless power market,” said Igor Spinella, CEO of Eggtronic. “Combined with the software interface Eggtronic has developed, this demonstration kit enables customers to visualize and implement a truly wireless in-car experience, including both the wireless charging and a reliable and fast communication between the smartphone and the infotainment of the vehicle.” (Original Source)

Shares of Integrated Device Technology closed last Friday at $23.56. IDTI has a 1-year high of $26.26 and a 1-year low of $16.22. The stock’s 50-day moving average is $24.36 and its 200-day moving average is $21.76.

On the ratings front, Integrated Device Technology has been the subject of a number of recent research reports. In a report issued on December 6, Loop Capital Markets analyst Betsy Van Hees initiated coverage with a Buy rating on IDTI and a price target of $27, which implies an upside of 15% from current levels. Separately, on November 1, Needham’s Quinn Bolton reiterated a Buy rating on the stock and has a price target of $25.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Betsy Van Hees and Quinn Bolton have a yearly average return of 20.9% and 19.5% respectively. Hees has a success rate of 59% and is ranked #104 out of 4345 analysts, while Bolton has a success rate of 72% and is ranked #38.

Overall, 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $25.75 which is 9.3% above where the stock closed last Friday.

Integrated Device Technology, Inc. designs, develops, manufactures and markets low-power, high-performance mixed signal semiconductor solutions for the advanced communications, computing and consumer industries. It offers communications solutions for customers within the enterprise, data center and wireless markets. The company operates business through two segments: Communications and Computing & Consumer. The Communications segment includes clock and timing solutions, Serial RapidIO switching solutions, Crystal Oscillator replacements, radio frequency, signal path products, flow-control management devices and first in and first out, integrated communications processors, high-speed static random access memory and digital logic and telecommunications products. The Computing & Consumer segment includes clock generation and distribution products, high-performance server memory interfaces, PCI Express switching solutions, signal integrity products, multi-port products, touch controllers, PC audio, power management solutions and video products.