Insider Selling: Hittite Microwave Corp. VP Sells 1,366 Shares of Stock (HITT)
Hittite Microwave Corp. (NASDAQ:HITT) VP Dong Hyun Hwang sold 1,366 shares of Hittite Microwave Corp. stock on the open market in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $64.59, for a total transaction of $88,229.94. Following the completion of the sale, the vice president now directly owns 39,042 shares of the company’s stock, valued at approximately $2,521,723. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
HITT has been the subject of a number of recent research reports. Analysts at Needham & Company upgraded shares of Hittite Microwave Corp. from a “hold” rating to a “buy” rating in a research note to investors on Friday, October 25th. They now have a $66.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Hittite Microwave Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, October 18th. They now have a $66.60 price target on the stock. Finally, analysts at Zacks downgraded shares of Hittite Microwave Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, September 19th. They now have a $61.60 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $66.40.
Hittite Microwave Corp. (NASDAQ:HITT) traded up 0.57% on Thursday, hitting $63.89. The stock had a trading volume of 115,478 shares. Hittite Microwave Corp. has a 52 week low of $50.73 and a 52 week high of $66.97. The stock has a 50-day moving average of $64.12 and a 200-day moving average of $59.79. The company has a market cap of $1.956 billion and a price-to-earnings ratio of 27.38.
Hittite Microwave Corp. (NASDAQ:HITT) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.04. The company had revenue of $68.70 million for the quarter, compared to the consensus estimate of $67.74 million. During the same quarter last year, the company posted $0.57 earnings per share. Hittite Microwave Corp.’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Hittite Microwave Corp. will post $2.31 earnings per share for the current fiscal year.
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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