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IDT 3Q18 results +1
The IDT conference call is concluding. Fourth quarter revenue is
guided to $222M, which is in-line, though IDT should exceed its
own full-year revenue projections. Projected EPS of 44 cents is
also in-line and I would still be surprised to see this report
move the stock much.
Wireless power momentum should also become apparent this year. For anyone tracking vehicle automation, there was an (unsurprising) comment that LiDAR probably won't start seeing volume until next calendar year. Most interesting to me was management's comments on narrow band and 5G upgrades. We'll see if the U.S. manages to bungle that too. Regardless, IDT is already beginning to distribute a wide array of sensors that can be powered by the company's own wireless power solutions and self-assemble a mesh network.
Obviously this is good for IDT, but again, at current price levels, I'm inclined to pay more attention to the implications that it has for Resonant. RESN has been declining towards $5. If it gets there, perhaps in conjunction with dilution, that's a level that I've consistently said would interest me for this GRoDT stock.
Integrated Device Technology has released results for its fiscal third quarter:
- EPS of 42 cents beats by a penny
- on $217.1M in revenue, which beats by $2.1M
These are good numbers, but probably not good enough to move IDTI up from recent levels. They exclude a $101.9M charge from the new tax code. The conference call starts shortly and we'll see what guidance looks like.