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9 Chip Earnings to Watch

5. Hittite Microwave (HITT), designs and develops integrated circuits (ICs), modules, subsystems and instrumentation for technically demanding radio frequency (RF) microwave and millimeterwave applications. The products find applications in end markets like automotives, broadband, cellular infrastructure and fiber optics, among others. The company will report its second-quarter earnings on Thursday.

The company is likely to record $20.25 million in net income, or 66 cents per share for second quarter 2011, compared to $19.16 million, or 64 cents per share, in the year-ago quarter, according to analysts polled by Bloomberg. For the quarter, sales are expected to rise to $68.52 million from $60.30 million in same quarter of 2010. Operating profit for the period is pegged at $31.43 million vs. $29.69 million in year-ago quarter.

Of the six analysts covering the stock, 50% recommend a buy and the rest suggest a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg see the stock gaining an average 15.6% to $70.20 in the upcoming 12 months.

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