Citi Maintains Buy Rating and $7.50 PT on Integrated Device Technology

A report from Citi reiterates its Buy rating and $7.50 price target on Integrated Device Technology (NASDAQ: IDTI).

The report states, “IDTI reported 2Q12(Sep) revenues at the low-end of their previously revised guidance, reflecting softness across all of their lines of business, but most acutely in their computing sub-segment (impacted by the decline in PC clocks."

IDTI closed yesterday at $5.92.