Integrated Device Technology Beats Estimates

Integrated Device Technology (NSDQ: IDTI) is a sweet green beacon in a sea of red today. The purveyor of communications and industrial semiconductor chips reported revenue and earnings for its fiscal fourth quarter that were better than expected.

Revenue grew 20% to $189 million, $2 million higher than forecasts. Earnings of $.36 were a few cents higher than estimates. Most importantly management was unquestionably bullish about prospects for recently acquired ZMDI. Cross-selling of Integrated chips into automotive customers is off to a very strong start and customer response has been overwhelmingly positive.

Infotainment and wireless charging applications in automobiles should drive robust growth for these chips and helps diversify Integrated’s revenue away from communications customers whose orders can be lumpy.

Guidance for the June quarter is for $.36, up 16% and higher than $.34 estimates. We think estimates for only mid-single-digit earnings growth in 2016 and 2017 are too conservative. We reiterate our $45 target.

Stock Talk

Yun

Yun

Hi Linda, I am not receiving your alert through email…who should I contact?

Linda McDonough

Linda McDonough

Hello,

I have forwarded your information to our customer service center to ensure that you get the alerts from now on. I apologize for the glitch. Please let me know if this is not set right.

Best,
Linda

Guest User

Guest User

I just bought LSCC.
How is everyone doing with this stock.
Is it still a good buy?

Guest User

Guest User

I am not receiving your alert emails too.

Jim Pearce

Jim Pearce

You also may want to check your spam filter. If you just subscribed, then your email server may not recognize us as a safe sender. If that’s the problem, then you should add us to your list of safe senders so it does not happen in the future. I hope that helps.

Add New Comments

You must be logged in to post to Stock Talk OR create an account