California State Teachers Retirement System boosted its stake in shares of Exar Corp. (NYSE:EXAR) by 2.8% during the second quarter, Holdings Channel reports. The institutional investor owned 85,619 shares of the company’s stock after buying an additional 2,324 shares during the period. California State Teachers Retirement System owned about 0.18% of Exar Corp. worth $689,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in EXAR. Arizona State Retirement System raised its position in Exar Corp. by 2.9% in the first quarter. Arizona State Retirement System now owns 24,867 shares of the company’s stock valued at $143,000 after buying an additional 700 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Exar Corp. by 7.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 31,363 shares of the company’s stock valued at $180,000 after buying an additional 2,273 shares during the period. Geode Capital Management LLC raised its position in Exar Corp. by 1.2% in the first quarter. Geode Capital Management LLC now owns 288,417 shares of the company’s stock valued at $1,658,000 after buying an additional 3,468 shares during the period. Prudential Financial Inc. raised its position in Exar Corp. by 3.6% in the first quarter. Prudential Financial Inc. now owns 113,283 shares of the company’s stock valued at $651,000 after buying an additional 3,900 shares during the period. Finally, BNP Paribas Arbitrage SA raised 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 period. Hedge funds and other institutional investors own 77.95% of the company’s stock.
Shares of Exar Corp. (NYSE:EXAR) traded down 2.26% during midday trading on Tuesday, reaching $9.52. The company’s stock had a trading volume of 166,480 shares. Exar Corp. has a 12-month low of $4.82 and a 12-month high of $9.85. The stock’s 50-day moving average price is $9.10 and its 200-day moving average price is $7.57. The company’s market cap is $471.94 million.
Exar Corp. (NYSE:EXAR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, beating 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 business had revenue of $27.10 million for the quarter, compared to analyst estimates of $26.60 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. On average, analysts expect that Exar Corp. will post $0.34 EPS for the current fiscal year.
Several equities analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $10.50 target price on shares of Exar Corp. in a research note on Tuesday, July 5th. Zacks Investment Research lowered Exar Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Finally, Stifel Nicolaus lifted their target price 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, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Exar Corp. currently has a consensus rating of “Buy” and a consensus price target of $21.00.
In other Exar Corp. news, VP James Lougheed purchased 3,400 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $8.81 per share, with a total value of $29,954.00. Following the purchase, the vice president now directly owns 29,471 shares in the company, valued at approximately $259,639.51. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.53% of the stock is owned by insiders.
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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