Zacks Investment Research upgraded shares of Exar Corp. (NYSE:EXAR) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $10.00 price objective 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 several other research reports. 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. Stifel Nicolaus upped their target price on shares of Exar Corp. from $10.00 to $11.00 and gave the stock a buy rating in a research note on Thursday, June 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $20.83.
Shares of Exar Corp. (NYSE:EXAR) opened at 9.03 on Tuesday. The company’s market capitalization is $447.65 million. The company has a 50 day moving average price of $9.16 and a 200 day moving average price of $7.73. Exar Corp. has a 52 week low of $4.82 and a 52 week high of $9.85.
Exar Corp. (NYSE:EXAR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $27.10 million for the quarter, compared to the consensus estimate of $26.60 million. Exar Corp. had a negative net margin of 3.36% and a positive return on equity of 5.31%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. On average, equities research analysts expect 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 stock in a transaction that occurred on Monday, August 8th. The shares were bought at an average price of $8.81 per share, for a total transaction of $29,954.00. Following the completion of the transaction, the vice president now directly owns 29,471 shares in the company, valued at $259,639.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXAR. A.R.T. Advisors LLC acquired a new position in Exar Corp. during the second quarter valued at $105,000. BNP Paribas Arbitrage SA increased 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 last quarter. Royal Bank of Canada increased its position in Exar Corp. by 171.2% in the first quarter. Royal Bank of Canada now owns 22,436 shares of the company’s stock valued at $129,000 after buying an additional 14,164 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Exar Corp. by 3.0% in the second quarter. Thrivent Financial for Lutherans now owns 23,170 shares of the company’s stock valued at $187,000 after buying an additional 670 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Exar Corp. by 1.6% in the second quarter. Arizona State Retirement System now owns 25,267 shares of the company’s stock worth $203,000 after buying an additional 400 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.