Exar Downgraded to Underperform at Zacks (EXAR)
Exar (NASDAQ:EXAR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday. They currently have a $8.90 price target on the stock. Zacks‘s target price indicates a potential downside of 4.81% from the company’s current price.
A number of other firms have also recently commented on EXAR. Analysts at Needham & Company LLC cut their price target on shares of Exar from $13.00 to $12.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of Exar from $15.00 to $13.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, 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, August 7th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $11.58.
Exar (NASDAQ:EXAR) remained flat at $9.35 during during mid-day trading trading on Tuesday. 127,474 shares of the company’s stock traded hands. Exar has a one year low of $8.72 and a one year high of $13.85. The stock’s 50-day moving average is $10.37 and its 200-day moving average is $11.06. The company’s market cap is $442.7 million.
Exar (NASDAQ:EXAR) last released its earnings data 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. On average, analysts predict that Exar will post $0.21 earnings per share 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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