Stifel Nicolaus Lowers Exar Price Target to $13.00 (EXAR)
Equities researchers at Stifel Nicolaus lowered their target price on shares of Exar (NASDAQ:EXAR) from $15.00 to $13.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 34.44% from the stock’s previous close.
Exar (NASDAQ:EXAR) traded down 3.52% during mid-day trading on Thursday, hitting $9.33. The stock had a trading volume of 185,174 shares. Exar has a 52-week low of $9.42 and a 52-week 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 $440.8 million and a P/E ratio of 80.58.
Exar (NASDAQ:EXAR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.10 earnings per share. Exar’s revenue was up .0% compared to the same quarter last year. Analysts expect that Exar will post $0.31 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on EXAR. Analysts at Cowen and Company cut their price target on shares of Exar from $14.00 to $11.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.48.
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.
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.