Canaccord Genuity Reiterates a 'Buy' on Integrated Device Tech (IDTI); Soft Guidance, But Focus Tightening

Canaccord Genuity reiterates a 'Buy' on Integrated Device Technology (NASDAQ: IDTI) price target of $7.00 (from $9.00).

Analyst, Bobby Burleson, said, "While guidance for the September quarter was below consensus, we believe expectations were for a soft outlook. A focus on cost controls sets up nicely for improvement in operating margins going forward, with or without the close of PLXT transaction, while new product momentum is healthy for SRIO, PCIe and PCIe SSDs."

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 $4.97 yesterday.

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