Exar Rating Increased to Outperform at Zacks (EXAR)
Exar (NASDAQ:EXAR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Tuesday, AnalystRatingsNetwork reports. The firm currently has a $11.80 price objective on the stock. Zacks‘s target price indicates a potential upside of 9.46% from the stock’s previous close.
EXAR has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Exar from $14.00 to $15.00 in a research note on Tuesday, May 6th. Separately, analysts at TheStreet downgraded shares of Exar from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $13.36.
Exar (NASDAQ:EXAR) traded down 0.74% on Tuesday, hitting $10.78. The stock had a trading volume of 162,981 shares. Exar has a one year low of $10.18 and a one year high of $13.85. The stock’s 50-day moving average is $11.21 and its 200-day moving average is $11.66. The company has a market cap of $510.2 million and a price-to-earnings ratio of 90.50.
Exar (NASDAQ:EXAR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.02. The company had revenue of $28.00 million for the quarter, compared to the consensus estimate of $28.50 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that Exar will post $0.31 EPS for the current fiscal year.
In other Exar news, major shareholder Soros Fund Management Llc sold 74,277 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $11.06, for a total value of $821,503.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Exar Corporation (NASDAQ:EXAR) designs, develops and markets high performance analog mixed-signal integrated circuits and advanced sub-system solutions for the Networking & Storage, Industrial & Embedded Systems, and Communications Infrastructure markets.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.