UPDATE: Wedbush Raises PT on Integrated Device Technology on Upbeat Upper Management Meetings

In a report published on Wednesday, Wedbush analyst Betsy Van Hees raised the price target on Integrated Device Technology IDTI from $7 to $8.50 and maintained a rating of Neutral.

In the report, Wedbush noted, "...the recovery of IDT's core business is firmly on track and while wireless power and flash controllers are potentially sizeable opportunities, they will likely provide minimal revenue contributions in FY:14, remaining the story for FY:15."

Integrated Device Technology closed on Tuesday at $8.12.