The semiconductor company reported earnings of 20 cents a share, beating the Capital IQ Consensus Estimate of 18 cents a share by 2 cents. Revenue grew 10.5% from the year-ago quarter to $137.09 million, beating analysts' estimates of $133.78 million for the second quarter.
Integrated Device Technology said it expects earnings of 21 cents to 23 cents a share and revenue of $138 million to $146 million for the fiscal third quarter, above analysts' expectations of EPS of 20 cents a share and revenue of $136.9 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 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 compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
You can view the full analysis from the report here: IDTI Ratings Report
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