Canaccord Genuity Reiterates a 'Buy' on Integrated Device Technology (IDTI); Gross margins resilient in face of slowdown
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Price: $48.99 --0%
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity reiterates a 'Buy' on Integrated Device Technology (NASDAQ: IDTI) price target lowered to $8.
Canaccord analyst, Bobby Burleson, said, "Management guided roughly flat for revenues in the September quarter, well below consensus Q/Q growth expectations of 7%, driven by weak communications and PC demand (push-outs and inventory correction, respectively). Despite the weak guidance, gross margin expectations are actually better for the second half of C2011 and CQ1/12 than previous management guidance, benefiting from more mix and pricing. We are lowering our estimates and price target and reiterating a BUY rating on an attractive valuation given low expectations going into quarterly results, better gross margins, and a likely resumption for growth from the December quarter forward."
For more ratings news on Integrated Device Technology click here and for the rating history of Integrated Device Technology click here.
Shares of Integrated Device Technology closed at $6.71 yesterday.
Canaccord analyst, Bobby Burleson, said, "Management guided roughly flat for revenues in the September quarter, well below consensus Q/Q growth expectations of 7%, driven by weak communications and PC demand (push-outs and inventory correction, respectively). Despite the weak guidance, gross margin expectations are actually better for the second half of C2011 and CQ1/12 than previous management guidance, benefiting from more mix and pricing. We are lowering our estimates and price target and reiterating a BUY rating on an attractive valuation given low expectations going into quarterly results, better gross margins, and a likely resumption for growth from the December quarter forward."
For more ratings news on Integrated Device Technology click here and for the rating history of Integrated Device Technology click here.
Shares of Integrated Device Technology closed at $6.71 yesterday.
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