Canaccord Genuity Reiterates a 'Buy' on Integrated Device Technology (IDTI); Analyst Day Signals Accelerating Growth

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

Analyst, Bobby Burleson, said, "We are increasing our estimates and raising our price target following a bullish analyst day yesterday. New product growth should enhance IDTI’s recovery off of the MarQ bottom, driven by sRIO for LTE base stations and PCI express and memory interface for servers. Additionally we expect growth in consumer from wireless charging beginning in H2 of C2012 and becoming a meaningful share of overall consumer revenue in C2013."

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 $6.98 yesterday.

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