Five Semiconductor Companies Leading the S&P 500

NEW YORK (TheStreet) -- These five semiconductor companies are leading the S&P 500 in an industry-wide rally on Tuesday.

Integrated Device Technology (IDTI) led the gains, jumping 12.3% to $10.67 as of 12:20 p.m. EDT. On Monday evening, the San Jose, Calif.-based company reported second-quarter earnings of 10 cents a share on revenue of $124.6 million, compared to 9 cents on $133.4 million a year earlier. Analysts surveyed by Thomson Reuters had expected 8 cents a share on revenue of $125.1 million.

Management also announced it had increased its share repurchase authorization to $150 million and will resume repurchase activity in the current quarter.

TheStreet Ratings team rates Integrated Device Tech as a Buy with a ratings score of B-. The team has this to say about its recommendation:

"We rate Integrated Device Tech INC (IDTI) a BUY. This is driven by a few notable 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, increase in net income, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

 

Micron Technology  (MU), a NAND Flash and DRAM memory specialist, has climbed 3.7% to $17.34 as of 12:20 p.m. EDT, adding to the stock's 174% gain in the year to date.

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