Hittite Microwave Corp. Stock Rating Lowered by Zacks (HITT)
Hittite Microwave Corp. (NASDAQ:HITT) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday, StockRatingsNetwork reports. They currently have a $53.00 price target on the stock. Zacks‘ price objective points to a potential downside of 3.67% from the company’s current price.
Shares of Hittite Microwave Corp. (NASDAQ:HITT) traded down 0.11% on Tuesday, hitting $54.96. 91,121 shares of the company’s stock traded hands. Hittite Microwave Corp. has a 52-week low of $52.36 and a 52-week high of $66.97. The stock has a 50-day moving average of $59.41 and a 200-day moving average of $61.85. The company has a market cap of $1.686 billion and a price-to-earnings ratio of 24.13.
Hittite Microwave Corp. (NASDAQ:HITT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ 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 prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue 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.
The company also recently announced a special dividend, which is scheduled for Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, February 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company cut their price target on shares of Hittite Microwave Corp. from $66.00 to $63.00 in a research note on Friday. Analysts at Goldman Sachs upgraded shares of Hittite Microwave Corp. to a “buy” rating in a research note on Friday. They now have a $75.00 price target on the stock, up previously from $70.00.
Hittite Microwave Corporation designs and develops integrated circuits (NASDAQ:HITT), modules, subsystems and instrumentation for radio frequency (RF) microwave and millimeterwave applications.
To view Zacks’ full report, visit www.zacks.com
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