NEW YORK (TheStreet) -- Integrated Device Technology (IDTI - Get Report) was gaining 4.1% to $14.06 after-hours Monday after beating analysts' estimates for earnings and revenue in the fiscal first quarter.
For the first quarter Integrated Device Tech reported earnings of 17 cents a share, beating the Capital IQ Consensus Estimate of 16 cents a share by 1 cent. Revenue grew 7.1% from the year-ago quarter to $126.3 million. Analysts expected revenue of $124.97 million for the quarter.
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 multiple 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, compelling growth in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."