Integrated Device Technology Stock Gaps Down On Today's Open (IDTI)

NEW YORK ( TheStreet) -- Shares of Integrated Device Technology (Nasdaq: IDTI) were gapping down Tuesday morning with an open price 12.1% lower than Monday's closing price. The stock closed at $6.78 Monday and opened today's trading at $5.96.

The average volume for Integrated Device Technology has been 1.7 million shares per day over the past 30 days. Integrated Device Technology has a market cap of $943.1 million and is part of the technology sector and electronics industry. Shares are up 24.1% year to date as of the close of trading on Monday.

Integrated Device Technology, Inc. designs, develops, manufactures, and markets a range of integrated circuits for communications, computing, and consumer industries worldwide. It operates in two segments, Communications, and Computing and Consumer. The company has a P/E ratio of 25.7, above the average electronics industry P/E ratio of 12.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Integrated Device Technology as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full Integrated Device Technology Ratings Report.

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