The stock of Exar Corporation (NYSE:EXAR) hit a new 52-week high and has $14.13 target or 44.00% above today’s $9.81 share price. The 7 months bullish chart indicates low risk for the $500.30 million company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $14.13 price target is reached, the company will be worth $220.13M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 417,752 shares traded hands or 62.14% up from the average. Exar Corporation (NYSE:EXAR) has risen 74.34% since February 29, 2016 and is uptrending. It has outperformed by 62.13% the S&P500.
Analysts await Exar Corporation (NYSE:EXAR) to report earnings on November, 3. They expect $0.05 earnings per share, up 25.00% or $0.01 from last year’s $0.04 per share. EXAR’s profit will be $2.55 million for 49.05 P/E if the $0.05 EPS becomes a reality. After $0.13 actual earnings per share reported by Exar Corporation for the previous quarter, Wall Street now forecasts -61.54% negative EPS growth.
Exar Corporation (NYSE:EXAR) Ratings Coverage
Out of 4 analysts covering Exar (NYSE:EXAR), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Exar has been the topic of 8 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, June 16. Cowen & Co maintained Exar Corporation (NYSE:EXAR) rating on Wednesday, August 5. Cowen & Co has “Outperform” rating and $11 price target. The firm has “Market Perform” rating given on Tuesday, October 20 by Cowen & Co. B. Riley & Co upgraded it to “Buy” rating and $10.50 target price in Tuesday, June 7 report. The stock has “Buy” rating given by TH Capital on Tuesday, November 10. The stock of Exar Corporation (NYSE:EXAR) earned “Buy” rating by Stifel Nicolaus on Wednesday, August 5. The stock of Exar Corporation (NYSE:EXAR) earned “Buy” rating by Stifel Nicolaus on Monday, October 12. The company was maintained on Thursday, May 12 by Cowen & Co.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.49 in 2016 Q2. Its down 0.64, from 2.13 in 2016Q1. The ratio fall, as 13 funds sold all Exar Corporation shares owned while 26 reduced positions. 17 funds bought stakes while 41 increased positions. They now own 37.44 million shares or 0.34% less from 37.56 million shares in 2016Q1.
Soros Fund Lc has 2.84 million shares for 0.49% of their US portfolio. Moreover, Ubs Asset Mgmt Americas has 0% invested in Exar Corporation (NYSE:EXAR) for 11,998 shares. Capstone Asset Mngmt Company holds 0% of its portfolio in Exar Corporation (NYSE:EXAR) for 12,460 shares. The New York-based Renaissance Tech Ltd has invested 0.02% in Exar Corporation (NYSE:EXAR). Arizona State Retirement Sys last reported 0% of its portfolio in the stock. Financial Bank Of America De owns 13,513 shares or 0% of their US portfolio. Wall Street Associate last reported 261,700 shares in the company. Pinebridge Invs Lp has 5,689 shares for 0% of their US portfolio. Metropolitan Life Insur Ny holds 0% of its portfolio in Exar Corporation (NYSE:EXAR) for 29,200 shares. Art Advisors Lc, a New York-based fund reported 13,130 shares. Aqr Capital Management Ltd Liability Corp holds 43,331 shares or 0% of its portfolio. Manufacturers Life Insur The, a Ontario – Canada-based fund reported 30,647 shares. Moreover, Boston Prtn has 0.04% invested in Exar Corporation (NYSE:EXAR) for 3.22M shares. Deutsche Savings Bank Ag, a Germany-based fund reported 212,444 shares. Legal General Group Public Limited Company accumulated 7,307 shares or 0% of the stock.
Insider Transactions: Since June 7, 2016, the stock had 3 buys, and 4 selling transactions for $162,705 net activity. LOUGHEED JAMES had sold 16,446 shares worth $138,146 on Wednesday, June 8. $41,985 worth of Exar Corporation (NYSE:EXAR) was bought by Benton Ryan A. Hilton Brian also sold $58,261 worth of Exar Corporation (NYSE:EXAR) on Tuesday, June 7. Another trade for 1,537 shares valued at $13,845 was sold by Wark Daniel. Guilbault Pierre G also sold $59,220 worth of Exar Corporation (NYSE:EXAR) shares.
More notable recent Exar Corporation (NYSE:EXAR) news were published by: Prnewswire.com which released: “Exar Corporation Announces Gary Meyers’ Appointment as Chairman of the Board …” on September 19, 2016, also Prnewswire.com with their article: “Exar Launches High-Speed, Small Footprint RS-485 Receivers for High …” published on September 16, 2016, Fool.com published: “Why Exar Corporation Fell 17% Tuesday” on October 20, 2015. More interesting news about Exar Corporation (NYSE:EXAR) were released by: Prnewswire.com and their article: “Exar Corporation Appoints Robert Pfister as Vice President of EMEA Sales” published on January 14, 2016 as well as Prnewswire.com‘s news article titled: “Exar Corporation Hires Tuomas Hollman as Division Vice President” with publication date: January 12, 2016.
EXAR Company Profile
Exar Corporation (Exar), incorporated on October 10, 1991, 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. Exar’s product portfolio includes connectivity, power management, high performance analog, communications, processors, flat panel display and LED lighting. The Firm creates and develops amplifiers and data converters that support a range of signal path and conditioning needs of networking, industrial control and embedded applications. Exar markets its products to three primary markets: industrial and embedded systems, consumer and infrastructure.
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