Barclays analyst Blayne Curtis maintained a Hold rating on Integrated Device Tech (NASDAQ: IDTI) yesterday and set a price target of $49. The company’s shares closed yesterday at $46.56, close to its 52-week high of $46.92.
According to TipRanks.com, Curtis is a 4-star analyst with an average return of 10.7% and a 61.8% success rate. Curtis covers the Consumer Goods sector, focusing on stocks such as Maxim Integrated, Cypress Semicon, and Broadcom.
Currently, the analyst consensus on Integrated Device Tech is a Hold with an average price target of $45.71, a -1.8% downside from current levels. In a report released yesterday, Susquehanna also downgraded the stock to Hold with a $49 price target.
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Based on Integrated Device Tech’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $30.72 million. In comparison, last year the company had a net profit of $16.71 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock.
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Integrated Device Technology, Inc. designs, develops, manufactures and markets semiconductor and system-level solutions for the advanced communications, computing, consumer, automotive, industrial and Internet-of-things markets. The company operates its business through the following segments: Communications, and Computing, Consumer & Industrial.
