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Shares of Hittite Microwave Corp (NASDAQ:HITT) were the target of a significant drop in short interest in the month of June. As of June 13th, there was short interest totalling 1,000,871 shares, a drop of 30.7% from the May 30th total of 1,444,259 shares, Analyst Ratings Network reports. Approximately 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,393,940 shares, the short-interest ratio is presently 0.7 days.

A number of research firms have recently commented on HITT. Analysts at ISI Group downgraded shares of Hittite Microwave Corp to a “hold” rating in a research note on Tuesday, June 10th. Separately, analysts at Wells Fargo & Co. downgraded shares of Hittite Microwave Corp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 10th. Finally, analysts at DA Davidson downgraded shares of Hittite Microwave Corp from a “buy” rating to a “neutral” rating in a research note on Monday, June 9th. They now have a $70.00 price target on the stock, down previously from $78.00. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.60.

Shares of Hittite Microwave Corp (NASDAQ:HITT) opened at 77.98 on Thursday. Hittite Microwave Corp has a 52-week low of $52.36 and a 52-week high of $78.47. The stock has a 50-day moving average of $68.53 and a 200-day moving average of $62.18. The company has a market cap of $2.446 billion and a price-to-earnings ratio of 35.50.

Hittite Microwave Corp (NASDAQ:HITT) last released its earnings data on Thursday, April 24th. The company reported $0.52 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.52. The company had revenue of $70.60 million for the quarter, compared to the consensus estimate of $68.50 million. During the same quarter last year, the company posted $0.57 earnings per share. Hittite Microwave Corp’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that Hittite Microwave Corp will post $2.35 EPS 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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