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Trade-Ideas: Hittite Microwave (HITT) Is Today's Pre-Market Mover With Heavy Volume Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Hittite Microwave ( HITT) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Hittite Microwave as such a stock due to the following factors:

  • HITT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $10.7 million.
  • HITT traded 21,000 shares today in the pre-market hours as of 8:05 AM, representing 15.2% of its average daily volume.

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More details on HITT:

Hittite Microwave Corporation designs, develops, and sells integrated circuits (ICs), modules, subsystems, and instrumentation products for radio frequency (RF) microwave and millimeterwave applications worldwide. The stock currently has a dividend yield of 1%. HITT has a PE ratio of 26.8. Currently there are 4 analysts that rate Hittite Microwave a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Hittite Microwave has been 186,700 shares per day over the past 30 days. Hittite Microwave has a market cap of $1.9 billion and is part of the technology sector and electronics industry. The stock has a beta of 0.81 and a short float of 4.6% with 10.51 days to cover. Shares are down 2.2% year-to-date as of the close of trading on Thursday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Hittite Microwave as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • HITT's revenue growth has slightly outpaced the industry average of 3.2%. Since the same quarter one year prior, revenues slightly increased by 4.3%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • HITT has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 22.39, which clearly demonstrates the ability to cover short-term cash needs.
  • Net operating cash flow has increased to $27.21 million or 16.54% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 3.91%.
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
  • HITTITE MICROWAVE CORP's earnings per share declined by 8.8% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, HITTITE MICROWAVE CORP increased its bottom line by earning $2.25 versus $2.22 in the prior year. This year, the market expects an improvement in earnings ($2.35 versus $2.25).

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