Heavy Volume And Pre-Market Movement For Integrated Device Technology (IDTI) - TheStreet

Trade-Ideas LLC identified

Integrated Device Technology

(

IDTI

) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Integrated Device Technology as such a stock due to the following factors:

  • IDTI has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $105.2 million.
  • IDTI traded 3.1 million shares today in the pre-market hours as of 8:55 AM, representing 72.7% of its average daily volume.

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More details on IDTI:

Integrated Device Technology, Inc. designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, and consumer industries worldwide. It operates in two segments, Communications, and Computing and Consumer. IDTI has a PE ratio of 28. Currently there are 5 analysts that rate Integrated Device Technology a buy, 1 analyst rates it a sell, and 1 rates it a hold.

The average volume for Integrated Device Technology has been 3.3 million shares per day over the past 30 days. Integrated Device Technology has a market cap of $3.8 billion and is part of the technology sector and electronics industry. The stock has a beta of 1.83 and a short float of 7.3% with 2.52 days to cover. Shares are up 32.8% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Integrated Device Technology as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:

  • The revenue growth greatly exceeded the industry average of 13.1%. Since the same quarter one year prior, revenues rose by 23.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • IDTI has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 7.44, which clearly demonstrates the ability to cover short-term cash needs.
  • Powered by its strong earnings growth of 75.00% and other important driving factors, this stock has surged by 68.42% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • INTEGRATED DEVICE TECH INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, INTEGRATED DEVICE TECH INC increased its bottom line by earning $0.74 versus $0.72 in the prior year. This year, the market expects an improvement in earnings ($1.23 versus $0.74).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 193.7% when compared to the same quarter one year prior, rising from $14.44 million to $42.42 million.

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