Exar Price Target Cut to $11.00 (EXAR)
Analysts at Cowen and Company dropped their target price on shares of Exar (NASDAQ:EXAR) from $14.00 to $11.00 in a research report issued to clients and investors on Thursday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective would indicate a potential upside of 13.75% from the stock’s previous close.
A number of other analysts have also recently weighed in on EXAR. Analysts at Zacks downgraded shares of Exar from an “outperform” rating to a “neutral” rating in a research note on Monday, July 7th. They now have a $12.40 price target on the stock. Two research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $12.88.
Exar (NASDAQ:EXAR) opened at 9.67 on Thursday. Exar has a 1-year low of $9.42 and a 1-year high of $13.85. The stock has a 50-day moving average of $10.58 and a 200-day moving average of $11.12. The company has a market cap of $456.8 million and a P/E ratio of 79.75.
Exar (NASDAQ:EXAR) last announced its earnings results on Wednesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $32.60 million for the quarter, compared to the consensus estimate of $29.60 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that Exar will post $0.31 EPS for the current fiscal year.
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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