Source : WordNet®

hobbit
     n : an imaginary being similar to a person but smaller and with
         hairy feet; invented by J.R.R. Tolkien

Source : Free On-Line Dictionary of Computing

Hobbit
     
        A {Scheme} to {C} compiler by Tanel Tammet
        .  Hobbit attempts to retain most of
        the original Scheme program structure, making the output C
        program readable and modifiable.  Hobbit is written in Scheme
        and is able to self-compile.  Hobbit release 1 works together
        with the {scm} release scm4b3.  Future releases of scm and
        hobbit will be coordinated.
     
        Current version: release 2.
     
        {(ftp://altdorf.ai.mit.edu/archive/scm/hobbit2.tar.Z)}.
     
        (1993/04/25)
     
        2. The non-{ITS} name of  (*Hobbit*), master of
        lasers.

hobbit
     
        High order bit.  The most significant bit (of a byte).  Also
        known as the {meta bit} or {high bit}.
     
        [{Jargon File}]