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Integrated Device Technology (IDTI) Stock Gains After Earnings Report

NEW YORK (TheStreet) -- Shares of Integrated Device Technology (IDTI - Get Report) were gaining 12.2% to $26.45 on Tuesday after the mixed-signal semiconductor solutions maker beat analysts' estimates for earnings in the second quarter of fiscal 2016.

On Monday, IDT reported earnings of 35 cents a share for the fiscal second quarter, above analysts' estimates of 31 cents a share for the quarter. Revenue grew 23.6% year over year to $169.5 million for the quarter, above analysts' estimates of $168.5 million.

CEO Greg Waters said the strong revenue growth was "driven by a strong rebound in sales of our communications products, continued market leadership in memory interface...


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