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Integrated Device Technology -3.2% after Q4 earnings beat

Published 05/01/2017, 06:29 PM
© Reuters.  Integrated Device Technology -3.2% after Q4 earnings beat
IDTI
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  • Integrated Device Technology (IDTI +1.5%) beat the Street with its fiscal Q4 report, thanks to strong revenues from wireless power, memory interface and automotive sensor products.
  • Net income dipped slightly on a non-GAAP basis, to $48.1M from $49M, and revenue fell 7%.
  • The company recently closed its acquisition of GigPeak to boost its presence in high-performance optical interconnect solutions.
  • Cash and equivalents came to $214.5M, and short-term investments to another $191.5M; total liabilities came to $409.97M.
  • At last check, shares were down 3.2% despite being flat most of the postmarket session.
  • Press Release
  • Now read: Integrated Device Technology, Inc. 2016 Q4 - Results - Earnings Call Slides


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