...that's 40% return...

Hittite Microwave (HITT) is a leading analog company.
With margin expansion, new product introductions, a
diversified revenue base, and recovery in demand in the
millimeter/microwave market, we remain positive on
HITT. Business remains strong due to the fact that the
company sells directly to its customers. Although, 1Q09
was the first sequentially down quarter in six years as a
result of weak global economic environment and
slowdown in end market demand, the 2Q is expected to
grow sequentially. We believe Hittite is better positioned
than its peers should the outlook for tech deteriorate
given its international exposure and less cyclical target
markets. We maintain our Buy rating on HITT shares,
and raise our six-month price target to $45.00.