Integrated Device Technology Inc (NASDAQ:IDTI) announced that it is integrating its industry-leading wireless power products with recently acquired signal conditioning technology from its ZMDI acquisition to develop new families of highly programmable semiconductors. The new devices will target several key applications, including wearables, home-automation, industrial, instrumentation and medical products.
The products under development will integrate IDT’s proven wireless power technology with signal conditioning products developed by engineers at ZMDI®, which IDT acquired in December.
“Many of the products that use sensing would also benefit from the ease of use that wireless power delivers,” said Sailesh Chittipeddi, IDT’s chief technology officer and vice president of Global Operations. “For several sensing applications that have a finite ability to retain a charge and either need replacement batteries or wired charging schemes, the ability to combine wireless charging with sensing opens the option to a wide array of applications, from implantable devices to home automation, wearables, industrial and instrumentation devices.”
Both technologies share a common 32-bit embedded microcontroller core which can be used to program both the wireless power circuitry as well as the high-precision analog front-end circuits used in signal conditioning applications. This provides a significant level of differentiation and flexibility compared with products that currently exist in the marketplace. In addition to bringing greater flexibility, the integration can potentially lower bill of materials for development of these applications while shrinking the footprint. (Original Source)
Shares of Integrated Device Technology closed yesterday at $17.33. IDTI has a 1-year high of $29.04 and a 1-year low of $14.50. The stock’s 50-day moving average is $23.92 and its 200-day moving average is $22.97.
On the ratings front, IDTI has been the subject of a number of recent research reports. In a report issued on February 8, Chardan analyst Marc Estigarribia reiterated a Buy rating on IDTI, with a price target of $28, which implies an upside of 61.6% from current levels. Separately, on February 2, Wedbush’s Betsy Van Hees upgraded the stock to Buy and has a price target of $27.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Marc Estigarribia and Betsy Van Hees have a total average return of -18.9% and 10% respectively. Estigarribia has a success rate of 0.0% and is ranked #3201 out of 3560 analysts, while Hees has a success rate of 45.4% and is ranked #248.
The street is mostly Bullish on IDTI stock. Out of 5 analysts who cover the stock, 5 suggest a Buy rating . The 12-month average price target assigned to the stock is $27.67, which implies an upside of 59.7% from current levels.
Integrated Device Technology Inc designs, develops, manufactures and markets low-power, high-performance mixed signal semiconductor solutions for the communications, computing and consumer industries.