Market Overview

UPDATE: Wedbush Securities Raises PT to $7.50 on Integrated Device Technology

Related IDTI
IDT Introduces New Voltage Variable Attenuators Delivering up to 1,000X Improvement in Linearity Over GaAs Products
Monday's After-Hours Movers Led By, Texas Roadhouse And Tenet Healthcare

Wedbush Securities reiterated its Outperform rating on Integrated Device Technology (NASDAQ: IDTI) and raised its price target from $6.50 to $7.50.

Wedbush Securities noted, "PLX Technology (PLXT) announced AMC on Friday that it had entered into a definitive agreement to divest its TeraPHY 10GBase-T team and associated products to privately-held Aquantia. Although the terms of the deal weren't disclosed, we view it as a positive, sweetening IDT's pending acquisition of PLX by taking out about $18MM of the targeted $35MM in cost synergies. While the macro for the semi sector has been challenging, we believe that IDT's FQ2 (Sep) is likely tracking largely in-line with the Street and our estimates."

Integrated Device Technology closed at $6.37 on Friday.

Latest Ratings for IDTI

May 2015BarclaysMaintainsUnderweight
May 2015BarclaysMaintainsUnderweight
Apr 2015Topeka CapitalInitiates Coverage onBuy

View More Analyst Ratings for IDTI
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (IDTI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters