Shares of Exar Corp. (NYSE:EXAR) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.83.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Exar Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. B. Riley reissued a “buy” rating and set a $11.50 price target on shares of Exar Corp. in a research note on Tuesday, August 9th.
Exar Corp. (NYSE:EXAR) opened at 8.88 on Friday. The stock’s market capitalization is $440.22 million. The company has a 50-day moving average price of $9.15 and a 200 day moving average price of $7.77. Exar Corp. has a 12 month low of $4.82 and a 12 month high of $9.85.
Exar Corp. (NYSE:EXAR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, beating 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 had revenue of $27.10 million for the quarter, compared to analyst estimates of $26.60 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts predict that Exar Corp. will post $0.34 earnings per share for the current year.
In related 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 purchased at an average cost of $8.81 per share, for a total transaction of $29,954.00. Following the transaction, the vice president now directly owns 29,471 shares of the company’s stock, valued at approximately $259,639.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.53% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of Exar Corp. during the second quarter valued at about $8,182,000. California State Teachers Retirement System increased its position in shares of 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 in the last quarter. RS Investment Management Co. LLC increased its position in shares of 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 period. Foundry Partners LLC acquired a new position in shares of Exar Corp. during the second quarter valued at $2,921,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of 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 77.94% of the company’s stock.
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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