Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why Integrated Device Technology Shares Fell Apart

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Integrated Device Technology (Nasdaq: IDTI  ) have fallen apart today, down by as much as 15%, after the company announced earnings along with an acquisition.

So what: Fourth-quarter revenue came in at $119.1 million, with earnings per share of $0.05, both of which topped forecasts. CEO Ted Tewksbury said the results showed improving trends within the communications and enterprise markets, and that IDT is focusing on 4G LTE wireless infrastructure as one of its growth areas.

Now what: In addition to the earnings, IDT said it intends to acquire PLX Technology (Nasdaq: PLXT  ) in a cash and stock deal worth roughly $330 million. The offer values PLX at approximately $7 per share, a whopping 76% premium relative to its previous close of $3.98. Looks like shareholders are a tad skeptical of today's announcements.

Interested in more info on Integrated Device Technology? Add it to your watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1876259, ~/Articles/ArticleHandler.aspx, 10/28/2016 5:38:58 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,161.19 -8.49 -0.05%
S&P 500 2,126.41 -6.63 -0.31%
NASD 5,190.10 -25.87 -0.50%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/28/2016 4:00 PM
IDTI $20.70 Down -0.34 -1.62%
Integrated Device… CAPS Rating: ***
PLXT.DL $0.00 Down +0.00 +0.00%
PLX Technology CAPS Rating: No stars