Zacks Investment Research cut shares of Exar Corp. (NYSE:EXAR) from a hold rating to a sell rating in a research report released on Tuesday morning.

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. “

Separately, B. Riley reiterated a buy rating and set a $11.50 price target on shares of Exar Corp. in a report on Tuesday, November 8th.

Shares of Exar Corp. (NYSE:EXAR) opened at 10.13 on Tuesday. The firm has a market cap of $508.00 million, a price-to-earnings ratio of 1125.56 and a beta of 1.45. The stock has a 50 day moving average of $9.32 and a 200-day moving average of $8.58. Exar Corp. has a 1-year low of $4.82 and a 1-year high of $10.18.

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In other news, Director Pierre G. Guilbault sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $9.76, for a total transaction of $63,440.00. Following the completion of the sale, the director now owns 42,500 shares in the company, valued at approximately $414,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.53% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in Exar Corp. by 14.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 86,150 shares of the company’s stock valued at $802,000 after buying an additional 10,900 shares during the period. Credit Suisse AG increased its stake in Exar Corp. by 47.0% in the third quarter. Credit Suisse AG now owns 94,133 shares of the company’s stock valued at $876,000 after buying an additional 30,102 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Exar Corp. by 37.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 389,675 shares of the company’s stock valued at $3,628,000 after buying an additional 105,914 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Exar Corp. during the third quarter valued at approximately $278,000. Finally, Two Sigma Advisers LP increased its stake in Exar Corp. by 42.8% in the third quarter. Two Sigma Advisers LP now owns 147,571 shares of the company’s stock valued at $1,374,000 after buying an additional 44,200 shares during the period. Hedge funds and other institutional investors own 78.55% 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.

5 Day Chart for NYSE:EXAR

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