Needham & Company Reiterates Buy Rating on Integrated Device Technology (IDTI) Post Analyst Day

Needham & Company analyst N. Quinn Bolton reiterates Buy rating and $28 price target on Integrated Device Technology (NADAQ: IDTI), noting positive highlights from management after attending the company’s Analyst Day.

Bolton comments, "We attended IDTI's Analyst Day in NY yesterday. The presentation was upbeat and management highlighted several new areas of growth. IDTI will now provide complete sensor modules in addition to individual sensor signal conditioning ICs, resulting in an ASP increase from $0.20-$0.25 to $1.00+. The company further announced a partnership with LeddarTech to provide automotive LiDAR solutions, which will ramp in 2018, and a new RapidWave SoC for microwave backhaul that will sample in 2Q17. IDTI will see increased memory interface content with the progression of Intel’s server platforms and the introduction of NVDIMMs. Management reiterated its long term target model and an 8-10% revenue growth rate, but we note none of the new product areas are factored in and thus provide future upside."'

For an analyst ratings summary and ratings history on Integrated Device Technology click here. For more ratings news on Integrated Device Technology click here.

Shares of Integrated Device Technology closed at $24.71 yesterday.

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