Needham & Company Starts Integrated Device Technology (IDTI) at Buy

Needham & Company initiates coverage on Integrated Device Technology (NASDAQ: IDTI) with a Buy rating and a price target of $26.00.

Analyst N. Quinn Bolton commented, "IDT is a supplier of high-performance analog mixed-signal ICs with industry-leading positions in wireless charging, memory interface, silicon timing and Serial RapidIO. Complementing these core franchises, IDT has expanded into RFICs for wireless infrastructure and advanced PMICs through internal development and into automotive ASSPs and sensor signal processing ICs through the December 2015 acquisition of ZDMI. IDT offers investors revenue growth >2x that of the broader semiconductor industry and superior financial returns, yet trades at a discount to its analog/mixed signal peers. We initiate coverage with a Buy rating and $26 PT."

For an analyst ratings summary and ratings history on Integrated Device Technology click here. For more ratings news on Integrated Device Technology click here.

Shares of Integrated Device Technology closed at $20.36 yesterday.

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