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Hittite Microwave Corp. (NASDAQ:HITT) was upgraded by equities researchers at Goldman Sachs Group Inc. to a “buy” rating in a research report issued on Friday, AnalystRatings.NET reports. The firm currently has a $75.00 price target on the stock, up from their previous price target of $70.00. Goldman Sachs Group Inc.’s price target suggests a potential upside of 32.18% from the company’s current price.

The analysts wrote, “Revenue of $68.8 million was slightly above the Street mean of $67.7 million, however, EPS of $0.53 came in below the consensus expectation of $0.57. The earnings shortfall is largely attributable to lower than expected GM (380bp below our 71.1% estimate) due to product mix and a couple of new (strategic) military development contracts that should drive future growth. Operating margin of 36.3% was 330bp below our 39.6% estimate.”

Hittite Microwave Corp. (NASDAQ:HITT) opened at 56.95 on Friday. Hittite Microwave Corp. has a 1-year low of $52.45 and a 1-year high of $66.97. The stock’s 50-day moving average is $59.7 and its 200-day moving average is $61.99. The company has a market cap of $1.744 billion and a P/E ratio of 24.46.

Hittite Microwave Corp. (NASDAQ:HITT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.03. The company had revenue of $68.80 million for the quarter, compared to the consensus estimate of $67.58 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. 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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