Hittite Microwave Corp. Stock Rating Upgraded by Zacks (HITT)
Hittite Microwave Corp. (NASDAQ:HITT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Friday, AR Network reports. The firm currently has a $66.60 price target on the stock. Zacks‘ price target would indicate a potential upside of 1.49% from the stock’s previous close.
Shares of Hittite Microwave Corp. (NASDAQ:HITT) traded down 0.02% on Friday, hitting $65.61. The stock had a trading volume of 138,345 shares. Hittite Microwave Corp. has a one year low of $52.45 and a one year high of $66.97. The stock’s 50-day moving average is $63.96 and its 200-day moving average is $59.37. The company has a market cap of $2.008 billion and a P/E ratio of 28.66.
Hittite Microwave Corp. (NASDAQ:HITT) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $68.61 million for the quarter, compared to the consensus estimate of $67.77 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that Hittite Microwave Corp. will post $2.28 earnings per share for the current fiscal year.
Separately, analysts at Stifel Nicolaus raised their price target on shares of Hittite Microwave Corp. from $72.00 to $75.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock.
Hittite Microwave Corporation designs and develops integrated circuits (NASDAQ:HITT), modules, subsystems and instrumentation for radio frequency (RF) microwave and millimeterwave applications.
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