Canaccord Genuity Raises PT on Integrated Device Technology (IDTI) to $9 Post Q3

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Canaccord Genuity raised its price target on Buy-rated Integrated Device Technology (NASDAQ: IDTI) from $8 to $9 following Q3 results.

"We reiterate a BUY following largely in-line results and guidance below consensus. Server memory and wireline communications are slower on a weak macro, while wireless power and enterprise SSD should drive growth beyond March Q. We believe tight cost controls will drive margin expansion and better earnings as revenue recovers later in F2014 off of the current depressed base."

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 $7.67 yesterday, with a 52 week range of $4.60-$7.80.

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