Exar Corp. (EXAR) Rating Increased to Buy at Zacks Investment Research
Exar Corp. (NYSE:EXAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $10.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.99% from the stock’s previous close.
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 have also recently weighed in on EXAR. B. Riley reaffirmed a “buy” rating and issued a $10.50 target price on shares of Exar Corp. in a report on Tuesday, July 5th. Stifel Nicolaus raised their price objective on shares of Exar Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Exar Corp. presently has an average rating of “Buy” and a consensus target price of $20.83.
Exar Corp. (NYSE:EXAR) opened at 9.01 on Tuesday. The company has a 50 day moving average of $9.16 and a 200 day moving average of $7.74. The firm’s market capitalization is $446.66 million. Exar Corp. has a 1-year low of $4.82 and a 1-year high of $9.85.
Exar Corp. (NYSE:EXAR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm had revenue of $27.10 million for the quarter, compared to analysts’ expectations of $26.60 million. Exar Corp. had a negative net margin of 3.36% and a positive return on equity of 5.31%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Analysts forecast that Exar Corp. will post $0.34 EPS for the current year.
In other Exar Corp. news, VP James Lougheed bought 3,400 shares of the stock in a transaction dated Monday, August 8th. The shares were acquired at an average cost of $8.81 per share, for a total transaction of $29,954.00. Following the completion of the transaction, the vice president now owns 29,471 shares in the company, valued at approximately $259,639.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Boston Partners raised its position in shares of Exar Corp. by 0.4% in the second quarter. Boston Partners now owns 3,218,380 shares of the company’s stock worth $25,908,000 after buying an additional 13,930 shares during the period. BlackRock Fund Advisors raised its position in shares of Exar Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,032,278 shares of the company’s stock worth $24,410,000 after buying an additional 131,633 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Exar Corp. by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,691 shares of the company’s stock worth $21,386,000 after buying an additional 154,847 shares during the period. Vanguard Group Inc. raised its position in shares of Exar Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,178,109 shares of the company’s stock worth $17,534,000 after buying an additional 104,015 shares during the period. Finally, Kennedy Capital Management Inc. raised its position in shares of Exar Corp. by 7.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,751,068 shares of the company’s stock worth $10,069,000 after buying an additional 118,244 shares during the period. Institutional investors and hedge funds own 77.95% of the company’s stock.
About Exar Corp.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Exar Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exar Corp. and related companies with MarketBeat.com's FREE daily email newsletter.