One company that should be on your radar is Integrated Device Technology, Inc. (IDTI). The stock of this semiconductor solutions company has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For IDTI’s full year estimate, we have seen 2 estimates go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from 29 cents a share a month ago to its current level at 38 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, IDTI has seen some pretty solid trading lately, as the company has moved higher by 12.3% in the past month.
If Integrated Device Technology can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put IDTI on your watch list for the future.
Other top-ranked stocks worth considering in this space include Lattice Semiconductor Corporation (LSCC), FormFactor Inc. (FORM) and Ambarella, Inc. (AMBA). While Lattice holds a Zacks Rank #1 (Strong Buy), FormFactor and Ambarella carry a Zacks Rank #2 (Buy).
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