In its fiscal third quarter, Integrated Device Technology posted earnings of 17 cents a share, beating analyst estimates by 5 cents. Analysts polled by Thomson Reuters estimated earnings of 12 cents a share.
The company fell just short of analyst expectations for revenue, however. Integrated Device Technology posted revenue of $124.6 million, while analysts expected revenue of $126.1 million for the quarter.
In a press release CEO Greg Waters said the third quarter of fiscal 2014 "marked a breakthrough in terms of financial performance."
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TheStreet Ratings team rates INTEGRATED DEVICE TECH INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTEGRATED DEVICE TECH INC (IDTI) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: IDTI Ratings Report