Integrated Device Technology
The 10-second takeaway
For the quarter ended April 1 (Q4), Integrated Device Technology beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Integrated Device Technology logged revenue of $119.1 million. The five analysts polled by S&P Capital IQ anticipated sales of $117.3 million on the same basis. GAAP reported sales were 19% lower than the prior-year quarter's $147.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.05. The five earnings estimates compiled by S&P Capital IQ predicted $0.03 per share. GAAP EPS of $0.09 for Q4 were 57% lower than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.4%, 100 basis points worse than the prior-year quarter. Operating margin was -3.5%, 990 basis points worse than the prior-year quarter. Net margin was 10.7%, 1,060 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $123.8 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $532.2 million. The average EPS estimate is $0.33.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 171 members out of 179 rating the stock outperform, and nine members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give Integrated Device Technology a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Integrated Device Technology is outperform, with an average price target of $8.20.
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