Canaccord Genuity Reiterates a 'Buy' on Integrated Device Technology (IDTI); Servers Driving Better-than-Seasonal Trends

Canaccord Genuity reiterates a 'Buy' on Integrated Device Technology (NASDAQ: IDTI) price target raised to $8.00.

Analyst, Bobby Burleson, said, "We reiterate a Buy on shares of IDTI and increase our price target following largely in-line results (soft revenues, EPS upside) and slightly soft guidance. Management sees Romley server upgrade driving better-than-seasonal revenues for Computing in the March quarter. We believe upside to our revised estimates could come from server memory interface and wireless infrastructure over the next few quarters."

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 $6.64 yesterday, with a 52 week range of $4.70-$8.74.

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