Brokerages Set Exar Corp. (EXAR) PT at $20.83
Exar Corp. (NYSE:EXAR) has received an average recommendation of “Buy” from the six brokerages that are presently covering the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.83.
A number of research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and set a $11.50 price target on shares of Exar Corp. in a research report on Tuesday, August 9th. Zacks Investment Research upgraded Exar Corp. from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Tuesday, October 11th.
Shares of Exar Corp. (NYSE:EXAR) opened at 8.87 on Friday. Exar Corp. has a 52-week low of $4.82 and a 52-week high of $9.85. The company’s 50-day moving average price is $9.13 and its 200-day moving average price is $7.84. The stock’s market cap is $439.72 million.
Exar Corp. (NYSE:EXAR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company earned $27.10 million during the quarter, compared to analyst estimates of $26.60 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts expect that Exar Corp. will post $0.34 earnings per share for the current year.
In other news, VP James Lougheed acquired 3,400 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $29,954.00. Following the completion of the acquisition, the vice president now directly owns 29,471 shares in the company, valued at approximately $259,639.51. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.53% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in EXAR. Emerald Acquisition Ltd. bought a new stake in shares of Exar Corp. during the second quarter worth about $8,182,000. Doheny Asset Management CA bought a new stake in shares of Exar Corp. during the second quarter worth about $5,064,000. Murphy Michael R raised its stake in shares of Exar Corp. by 53.2% in the first quarter. Murphy Michael R now owns 1,454,706 shares of the company’s stock worth $8,365,000 after buying an additional 504,899 shares during the period. Simcoe Capital Management LLC bought a new stake in shares of Exar Corp. during the second quarter worth about $3,681,000. Finally, Foundry Partners LLC bought a new stake in shares of Exar Corp. during the second quarter worth about $2,921,000. 77.94% of the stock is currently owned by institutional investors.
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.
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