Exar Corp. (EXAR) Cut to Hold at Zacks Investment Research
According to Zacks, “Exar Corporation designs, develops and markets analog and mixed-signal integrated circuits for use in communications and video and imaging products. The company’s target markets are ones in which the company believes its design and process expertise, combined with its knowledge of particular system application requirements, enables the company to deliver products that provide effective solutions to customer needs. The company also produces digital integrated circuits used in communications products, as well as general purpose analog integrated circuits. “
Several other analysts also recently commented on EXAR. B. Riley restated a buy rating and issued a $11.50 target price on shares of Exar Corp. in a research note on Tuesday, August 9th. Stifel Nicolaus lifted their price target on Exar Corp. from $10.00 to $11.00 and gave the company a buy rating in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $21.00.
Shares of Exar Corp. (NYSE:EXAR) opened at 9.46 on Tuesday. Exar Corp. has a 12-month low of $4.82 and a 12-month high of $9.85. The company’s market cap is $468.97 million. The company’s 50-day moving average price is $9.16 and its 200 day moving average price is $7.66.
Exar Corp. (NYSE:EXAR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Exar Corp. had a positive return on equity of 5.31% and a negative net margin of 3.36%. The firm earned $27.10 million during the quarter, compared to analyst estimates of $26.60 million. During the same period last year, the company posted $0.10 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities analysts predict that Exar Corp. will post $0.34 earnings per share for the current year.
In other Exar Corp. news, VP James Lougheed bought 3,400 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were purchased at an average price of $8.81 per share, for a total transaction of $29,954.00. Following the purchase, the vice president now directly owns 29,471 shares of the company’s stock, valued at $259,639.51. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.53% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. A.R.T. Advisors LLC acquired a new position in shares of Exar Corp. during the second quarter worth $105,000. BNP Paribas Arbitrage SA increased its position in shares of Exar Corp. by 87.6% in the second quarter. BNP Paribas Arbitrage SA now owns 14,773 shares of the company’s stock worth $119,000 after buying an additional 6,899 shares during the last quarter. Royal Bank of Canada increased its position in shares of Exar Corp. by 171.2% in the first quarter. Royal Bank of Canada now owns 22,436 shares of the company’s stock worth $129,000 after buying an additional 14,164 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Exar Corp. by 3.0% in the second quarter. Thrivent Financial for Lutherans now owns 23,170 shares of the company’s stock worth $187,000 after buying an additional 670 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Exar Corp. by 2.9% in the first quarter. Arizona State Retirement System now owns 24,867 shares of the company’s stock worth $143,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 77.95% of the company’s stock.
Exar Corp. Company Profile
Exar Corporation (Exar) designs, develops and markets analog mixed-signal integrated circuits (ICs) and sub-system solutions. The Company’s products are deployed in a range of applications, such as industrial, instrumentation and medical equipment, networking and telecommunication systems, servers, enterprise storage systems, flat panel displays, light emitting diode (LED) lighting solutions, set top boxes and digital video recorders.
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