Exar Downgraded by Zacks to Neutral (EXAR)
Exar (NASDAQ:EXAR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Monday. They currently have a $12.40 price target on the stock. Zacks‘s price target would indicate a potential upside of 9.35% from the stock’s previous close.
Exar (NASDAQ:EXAR) traded down 1.76% during mid-day trading on Monday, hitting $11.14. 48,905 shares of the company’s stock traded hands. Exar has a 52 week low of $9.70 and a 52 week high of $13.85. The stock’s 50-day moving average is $10.95 and its 200-day moving average is $11.37. The company has a market cap of $526.3 million and a P/E ratio of 94.50.
Exar (NASDAQ:EXAR) last announced its earnings results on Monday, May 5th. The company reported $0.01 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.10 earnings per share. Exar’s revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that Exar will post $0.31 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Analysts at TheStreet downgraded shares of Exar from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.48.
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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