Exar Corp. (EXAR) Downgraded by Zacks Investment Research to Hold

Exar Corp. (NYSE:EXAR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Other analysts have also issued reports about the company. B. Riley upgraded Exar Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $6.50 to $10.50 in a research report on Tuesday, June 7th. Stifel Nicolaus lowered their price objective on Exar Corp. from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Shares of Exar Corp. (NYSE:EXAR) traded down 2.26% during trading on Tuesday, hitting $9.52. The stock had a trading volume of 272,941 shares. The company’s market capitalization is $471.94 million. Exar Corp. has a 1-year low of $4.82 and a 1-year high of $9.85. The firm has a 50 day moving average of $9.11 and a 200 day moving average of $7.60.

Exar Corp. (NYSE:EXAR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate 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 company’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Analysts expect that Exar Corp. will post $0.34 EPS for the current fiscal year.

In other Exar Corp. news, VP James Lougheed acquired 3,400 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $8.81 per share, for a total transaction of $29,954.00. Following the acquisition, the vice president now directly owns 29,471 shares of the company’s stock, valued at approximately $259,639.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.53% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in EXAR. Boston Partners boosted its position in Exar Corp. by 0.4% in the second quarter. Boston Partners now owns 3,218,380 shares of the company’s stock valued at $25,908,000 after buying an additional 13,930 shares during the period. BlackRock Fund Advisors boosted its position in Exar Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,032,278 shares of the company’s stock valued at $24,410,000 after buying an additional 131,633 shares during the period. Dimensional Fund Advisors LP boosted its position in Exar Corp. by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,691 shares of the company’s stock valued at $21,386,000 after buying an additional 154,847 shares during the period. Vanguard Group Inc. boosted its position in Exar Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,178,109 shares of the company’s stock valued at $17,534,000 after buying an additional 104,015 shares during the period. Finally, Kennedy Capital Management Inc. boosted its position in Exar Corp. by 7.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,751,068 shares of the company’s stock valued at $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.

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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