Zacks Investment Research upgraded shares of Exar Corp. (NYSE:EXAR) from a sell rating to a hold rating in a research report report published on Monday 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 restated a buy rating and set a $11.50 price target on shares of Exar Corp. in a report on Thursday, August 4th.
Shares of Exar Corp. (NYSE:EXAR) opened at 10.12 on Monday. The firm has a market cap of $507.50 million, a P/E ratio of 1124.44 and a beta of 1.45. The company’s 50 day moving average price is $9.30 and its 200-day moving average price is $8.49. Exar Corp. has a 12-month low of $4.82 and a 12-month high of $10.17.
In other news, Director Pierre G. Guilbault sold 6,500 shares of the stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $9.76, for a total value of $63,440.00. Following the transaction, the director now owns 42,500 shares in the company, valued at approximately $414,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.53% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased 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 worth $25,908,000 after buying an additional 13,930 shares during the last quarter. BlackRock Fund Advisors increased 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 worth $24,410,000 after buying an additional 131,633 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $21,386,000 after buying an additional 154,847 shares during the last quarter. Vanguard Group Inc. increased 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 worth $17,534,000 after buying an additional 104,015 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Exar Corp. by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,229,729 shares of the company’s stock worth $11,449,000 after buying an additional 11,937 shares during the last quarter. Institutional investors and hedge funds own 78.00% 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.