DA Davidson Upgrades Hittite Microwave (HITT) to Buy; Q1 Tops

DA Davidson upgraded Hittite Microwave (NASDAQ: HITT) from Neutral to Buy with a price target of $60.00.

Analyst, Aalok K. Shah, said, "We continue to remain optimistic that Hittite is making strategic moves toward long term growth. The company has increased its mix of silicon products (between 15% and 20% of revenue) while maintaining gross margin. With strong backlog and expectations of an improvement in 2H’12 we are upgrading the shares."

For an analyst ratings summary and ratings history on Hittite Microwave click here. For more ratings news on Hittite Microwave click here.

Shares of Hittite Microwave closed at $49.87 yesterday.

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