Zacks Investment Research upgraded shares of Exar Corp. (NYSE:EXAR) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $10.00 price target on the stock.
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. “
EXAR has been the topic of a number of other research reports. B. Riley reissued a buy rating and issued a $10.50 price target on shares of Exar Corp. in a report on Tuesday, July 5th. Stifel Nicolaus raised their price target on shares of Exar Corp. from $10.00 to $11.00 and gave the stock a buy rating in a report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Exar Corp. has a consensus rating of Buy and a consensus target price of $20.83.
Shares of Exar Corp. (NYSE:EXAR) opened at 8.80 on Tuesday. The stock’s 50 day moving average is $9.15 and its 200 day moving average is $7.75. Exar Corp. has a 52-week low of $4.82 and a 52-week high of $9.85. The company’s market capitalization is $436.25 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 analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $27.10 million for the quarter, compared to analyst estimates of $26.60 million. Exar Corp. had a negative net margin of 3.36% and a positive return on equity of 5.31%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. Equities analysts expect that Exar Corp. will post $0.34 EPS for the current year.
In related news, VP James Lougheed bought 3,400 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was purchased at an average cost of $8.81 per share, with a total value of $29,954.00. Following the transaction, the vice president now owns 29,471 shares in the company, valued at approximately $259,639.51. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.53% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of EXAR. Emerald Acquisition Ltd. acquired a new position in shares of Exar Corp. during the second quarter worth about $8,182,000. Doheny Asset Management CA acquired a new position in shares of Exar Corp. during the second quarter worth about $5,064,000. Murphy Michael R boosted its position 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 acquired a new position in shares of Exar Corp. during the second quarter worth about $3,681,000. Finally, Foundry Partners LLC acquired a new position in shares of Exar Corp. during the second quarter worth about $2,921,000. 77.95% of the stock is owned by hedge funds and other 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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