Integrated Device Technology, Inc. (IDTI) is a manufacturer of mixed signal semiconductor solutions that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on IDTI’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Integrated Device Technology could be a solid choice for investors.
Current Quarter Estimates for IDTI
In the past 30 days, 2 estimates have gone higher for Integrated Device Technology while 0 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 18 cents a share 30 days ago, to 20 cents today, a move of 11.1%.
Current Year Estimates for IDTI
Meanwhile, Integrated Device Technology’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 0 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 63 cents per share 30 days ago to 70 cents per share today, an increase of 11.1%.
Bottom Line
The stock has also started to move higher lately, adding 28.76% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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