Exar Corp. (EXAR) Lowered 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. “
A number of other equities analysts have also issued reports on the company. Stifel Nicolaus decreased their price target on Exar Corp. from $10.00 to $9.00 and set a buy rating for the company in a research note on Monday, June 6th. B. Riley upgraded Exar Corp. from a neutral rating to a buy rating and increased their price objective for the company from $6.50 to $10.50 in a research report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $21.00.
Shares of Exar Corp. (NYSE:EXAR) opened at 9.52 on Tuesday. The firm’s 50-day moving average price is $9.11 and its 200-day moving average price is $7.60. Exar Corp. has a 52-week low of $4.82 and a 52-week high of $9.85. The stock’s market cap is $471.94 million.
Exar Corp. (NYSE:EXAR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm earned $27.10 million during the quarter, compared to analyst estimates of $26.60 million. Exar Corp. had a positive return on equity of 5.31% and a negative net margin of 3.36%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. On average, equities research analysts forecast that Exar Corp. will post $0.34 earnings per share for the current fiscal year.
In other news, VP James Lougheed acquired 3,400 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average cost of $8.81 per share, for a total transaction of $29,954.00. Following the completion of the acquisition, the vice president now owns 29,471 shares in the company, valued at $259,639.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.53% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Exar Corp. by 2.8% in the second quarter. California State Teachers Retirement System now owns 85,619 shares of the company’s stock valued at $689,000 after buying an additional 2,324 shares during the last quarter. RS Investment Management Co. LLC increased its position in Exar Corp. by 39.4% in the second quarter. RS Investment Management Co. LLC now owns 243,440 shares of the company’s stock valued at $1,960,000 after buying an additional 68,800 shares during the last quarter. Foundry Partners LLC acquired a new position in Exar Corp. during the second quarter valued at approximately $2,921,000. BNP Paribas Arbitrage SA increased its position in Exar Corp. by 87.6% in the second quarter. BNP Paribas Arbitrage SA now owns 14,773 shares of the company’s stock valued at $119,000 after buying an additional 6,899 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Exar Corp. by 171.2% in the first quarter. Royal Bank of Canada now owns 22,436 shares of the company’s stock valued at $129,000 after buying an additional 14,164 shares during the last quarter. 77.95% of the stock is currently owned by hedge funds and other institutional investors.
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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