On Tuesday, Integrated Device Technology’s shares dropped by nine percent. The primary reason for the drop is the fact that there are worries about Qualcomm Inc, a developer of cellphone chips, choosing On Semiconductor technology rather than the wireless charging technology design of Integrated Device Technology.
There are some analysts that said that the sell-off was influenced by the research note coming from Dougherty & Co implies that the On Semiconductor won over the Integrated Device Technology on the Qualcomm deal. Of course, if that is really true, there is enough reason why the shares of Integrated Device fell down. Though the research note suggested that Integrated Device lost against On Semiconductor, the research note also said that the business could still win deals and business in Qualcomm Inc.
When people and reporters tried to seek comments from these three involved companies, they were unsuccessful. The reason why they were unsuccessful at getting the sides of these companies is due to the fact that the representatives of Integrated Device Technology, On Semiconductor and Qualcomm Inc were still unavailable as of the moment.
According to Harsh Kumar, who is an analyst, believe that the sell-off that drove the shares of Integrated Device to drop was pompous.