Zacks Investment Research Upgrades Exar Corp. (EXAR) to Buy
Exar Corp. (NYSE:EXAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $10.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.74% from the stock’s previous close.
According to Zacks, “Exar Corporation designs, develops and markets analog and mixed-signal integrated circuits for use in communications and video and imaging products. The company’s target markets are ones in which the company believes its design and process expertise, combined with its knowledge of particular system application requirements, enables the company to deliver products that provide effective solutions to customer needs. The company also produces digital integrated circuits used in communications products, as well as general purpose analog integrated circuits. “
Other equities analysts have also issued research reports about the company. B. Riley reaffirmed a “buy” rating and issued a $11.50 price objective on shares of Exar Corp. in a research note on Tuesday, August 9th. Stifel Nicolaus upped their price objective on Exar Corp. from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.83.
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Exar Corp. (NYSE:EXAR) traded down 4.14% during trading on Tuesday, hitting $9.03. The company’s stock had a trading volume of 209,972 shares. The firm has a 50 day moving average of $9.16 and a 200 day moving average of $7.73. Exar Corp. has a 12 month low of $4.82 and a 12 month high of $9.85. The firm’s market cap is $447.65 million.
Exar Corp. (NYSE:EXAR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm earned $27.10 million during the quarter, compared to analyst estimates of $26.60 million. Exar Corp. had a positive return on equity of 5.31% and a negative net margin of 3.36%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. Equities research analysts predict that Exar Corp. will post $0.34 earnings per share for the current year.
In other news, VP James Lougheed purchased 3,400 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average cost of $8.81 per share, with a total value of $29,954.00. Following the completion of the purchase, the vice president now owns 29,471 shares in the company, valued at $259,639.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.53% of the company’s stock.
Several large investors have recently bought and sold shares of EXAR. Boston Partners raised its stake in Exar Corp. by 0.4% in the second quarter. Boston Partners now owns 3,218,380 shares of the company’s stock valued at $25,908,000 after buying an additional 13,930 shares during the last quarter. BlackRock Fund Advisors raised its stake in Exar Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,032,278 shares of the company’s stock valued at $24,410,000 after buying an additional 131,633 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Exar Corp. by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,691 shares of the company’s stock valued at $21,386,000 after buying an additional 154,847 shares during the last quarter. Vanguard Group Inc. raised its stake in Exar Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,178,109 shares of the company’s stock valued at $17,534,000 after buying an additional 104,015 shares during the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in Exar Corp. by 7.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,751,068 shares of the company’s stock valued at $10,069,000 after buying an additional 118,244 shares during the last quarter. 77.95% of the stock is owned by institutional investors and hedge funds.
About Exar Corp.
Exar Corporation (Exar) designs, develops and markets analog mixed-signal integrated circuits (ICs) and sub-system solutions. The Company’s products are deployed in a range of applications, such as industrial, instrumentation and medical equipment, networking and telecommunication systems, servers, enterprise storage systems, flat panel displays, light emitting diode (LED) lighting solutions, set top boxes and digital video recorders.
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