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Integrated Device Technology(IDTI - Get Report) designs, develops, manufactures and markets a range of semiconductor solutions for the advanced communications, computing and consumer industries. This stock is trading up 5.7% at $7.44 in recent trading.
Today's Range: $7.12-$7.47
52-Week Range: $4.70-$8.74
Volume: 1.4 million
Three-Month Average Volume: 1.6 million
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Shares of IDTI are ripping higher today after Starboard Value reported a 6.5% stake in the company.
From a technical perspective, IDTI is gapping up strong today on decent volume. This move has pushed the stock into breakout territory since it's crossed some near-term overhead resistance at $7.14.
Traders should now consider long-biased trades if IDTI can manage to close above $7.14 with volume that's near or well above 1,642,010 share. If we get that action, look for a much bigger breakout to trigger once $7.52 is taken out with high volume. Target a potential run-up towards $8 to $8.75 in the near-term if $7.52 is taken out with volume.