Integrated Device Technology, Inc. (NASDAQ:IDTI) earnings reaction history

Integrated Device Technology, Inc. (NASDAQ:IDTI) is projected to declare fiscal fourth quarter financial results right after the stock market’s official close on May 08, 2017. The stock lost about -9.4 percent in price since last results when it was at $26.35 a share. Based on the most relevant past-periods data, there is an 62.96 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 17 times out of last 27 reported quarters. It has beaten earnings-per-share estimates 66% of the time in its last 12 earnings reports. It fell short of earnings estimates on 2 occasions, and it has met expectations 2 times.

Here’s how traders responded to IDTI earnings announcements over the past few quarters.

Integrated Device Technology, Inc. (IDTI) Earnings Surprises & Reaction

Given its history, the average earnings announcement surprise was 8.27 percent over the past four quarters. Back on January 30, 2017, it posted earnings per-share earnings at $0.3 which beat the consensus $0.27 projection (positive surprise of11.11%. For the quarter, revenue came in at 176.36M versus consensus estimate of 176.16M. The stock dropped -4.4 percent the session following the earnings reports were released, and on 7th day price change was -5.5 percent.

On October 31, 2016, it reported earnings at $0.28 a share compared with the consensus estimate of $0.26 per share (positive surprise of 7.69%). Revenue of 184.06M for that quarter was below the $184.11M analysts had expected. The stock climbed 10.43% the day following the earnings announcement, and on 7th day price change was 10.53%.

On August 1, 2016, it recorded $0.3 a share in earnings which missed the consensus estimate of $0.3 (negative surprise of 0%). Revenue for the quarter was $192.13M while analysts called for revenues to be $191.07M. The stock dropped -11.85% the day following the earnings data was made public, and on 7th day price change was -14.56%.

On May 2, 2016, it announced earnings per share at $0.32 versus the consensus estimate of $0.28 per share (positive surprise of 14.29%). That came on revenues of $189.36M for that period. Analysts had expected $187.12M in revenue.

Integrated Device Technology, Inc. Earnings Estimates

As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.35. The analysts’ present consensus range is $0.32-$0.37 for EPS. The market consensus range for revenue is between $178.5M and $185M, with an average of $181.94M.

Integrated Device Technology, Inc. (NASDAQ:IDTI) last ended at $24.24, sending the company’s market cap near $3.23B. The consensus 12-month price target from analysts covering the stock is $28.17. The share price has declined -9.08% from its top level in 52 weeks and dropped 2.89% this year. It recently traded in a range of $23.8-$24.29 at a volume of 1108479 shares. The recent trading ended with the price nearly 1.72 higher for the last 5 trading days, rebounding 31.1% from its 52-week low.