Insider Selling: Exar Corp. major shareholder Sells 985,708 Shares of Stock (EXAR)
Exar Corp. (NASDAQ:EXAR) major shareholder Soros Fund Management Llc sold 985,708 shares of Exar Corp. stock on the open market in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $12.14, for a total transaction of $11,966,495.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Cowen and Company initiated coverage on shares of Exar Corp. in a research note to investors on Friday, December 20th. They set an “outperform” rating and a $14.00 price target on the stock. Analysts at Needham & Company reiterated a “buy” rating on shares of Exar Corp. in a research note to investors on Friday, November 15th. They now have a $15.00 price target on the stock.
Shares of Exar Corp. (NASDAQ:EXAR) traded down 2.26% on Friday, hitting $12.10. 195,117 shares of the company’s stock traded hands. Exar Corp. has a 1-year low of $9.70 and a 1-year high of $13.85. The stock has a 50-day moving average of $11.8 and a 200-day moving average of $12.48. The company has a market cap of $574.9 million and a P/E ratio of 56.27.
Exar Corporation (NASDAQ:EXAR), designs, develops and markets analog and mixed-signal integrated circuits (ICs) and sub-system solutions for data and telecommunications, networking and storage, industrial control and consumer applications.
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