Exar major shareholder Sells $824,162 in Stock (EXAR)
Exar (NASDAQ:EXAR) major shareholder Soros Fund Management Llc sold 74,992 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $10.99, for a total transaction of $824,162.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Exar (NASDAQ:EXAR) traded up 0.64% during mid-day trading on Monday, hitting $11.03. The stock had a trading volume of 117,168 shares. Exar 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 $10.77 and a 200-day moving average of $11.48. The company has a market cap of $522.0 million and a P/E ratio of 91.33.
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.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Exar from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 13th. They now have a $11.80 price target on the stock. Separately, 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. Finally, analysts at TheStreet downgraded shares of Exar from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Exar presently has a consensus rating of “Buy” and an average target price of $13.36.
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.
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