Filing of The Day: Exar Corp Has Another Bullish Trade, Simcoe Capital Management Bought Stake!

Filing of The Day: Exar Corp Has Another Bullish Trade, Simcoe Capital Management Bought Stake!

The New Simcoe Capital Management Holding in Exar Corp

Simcoe Capital Management filed with the SEC SC 13D form for Exar Corp. The form can be accessed here: 000092189516006226. As reported in Simcoe Capital Management’s form, the filler as of late owns 5.2% or 2,600,000 shares of the Information Technology–company.

Exar Corp stake is a new one for the for this institutional investor and it was filed because of activity on November 17, 2016. We feel this shows Simcoe Capital Management’s positive view for the stock.

Reasons Why Simcoe Capital Management Bought – Exar Corp Stock

Purpose of Transaction

.

The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. The Reporting Persons have engaged and expect to continue to engage in communications with management and the Board of Directors of the Issuer (the “Board”) regarding voluntarily adding an independent stockholder representative to the Board. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, continuing to engage in communications with management and the Board, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons’ investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure, potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s financial and/or operational performance, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.

Exar Corp Institutional Sentiment

Latest Security and Exchange filings show 101 investors own Exar Corp. The institutional ownership in Q3 2015 is high, at 89.16% of the outstanding shares. This is increased by 5913301 the total institutional shares. 44713551 were the shares owned by these institutional investors. In total 7 funds opened new Exar Corp stakes, 45 increased stakes. There were 21 that closed positions and 32 reduced them.

Wall Street Associates is an institutional investor bullish on Exar Corp, owning 436297 shares as of Q3 2015 for 0.50% of its portfolio. Peter A. Wright P-A-W Capital Corp owns 160000 shares or 1.09% of its portfolio. CA Firsthand Capital Management Inc have 1.28% of their stock portfolio for 270000 shares. Further, S Squared Technology Llc reported stake worth 1.38% of its US stock portfolio. The CA Westerly Capital Management Llc owns 200000 shares. Exar Corp is 1.43% of the manager’s US portfolio.

Business Profile

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. Exar’s product portfolio includes connectivity, power management, high performance analog, communications, processors, flat panel display and LED lighting. The Company designs and develops amplifiers and data converters that support a range of signal path and conditioning needs of networking, industrial control and embedded applications. The Company markets its products to three primary markets, such as industrial and embedded systems, consumer and infrastructure.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment decreased to 1.4 in Q2 2016. Its down 0.09, from 1.49 in 2016Q1. The ratio dived, 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.

State Teachers Retirement Systems, a New York-based fund reported 174,035 shares. Invesco Limited has 215,009 shares for 0% of their US portfolio. Pnc Fincl Ser Inc has 246 shares for 0% of their US portfolio. Barclays Public Ltd Co, a United Kingdom-based fund reported 6,400 shares. Ladenburg Thalmann Fincl Serv accumulated 0% or 500 shares. Victory Mngmt owns 88,967 shares or 0% of their US portfolio. Voya Invest Mgmt last reported 0% of its portfolio in the stock. Principal Finance Gru reported 342,132 shares or 0% of all its holdings. Bankshares Of New York Mellon reported 467,663 shares or 0% of all its holdings. The Australia-based Amp Investors Limited has invested 0% in Exar Corporation (NYSE:EXAR). State Street Corporation accumulated 0% or 765,596 shares. State Common Retirement Fund accumulated 35,800 shares or 0% of the stock. Wells Fargo And Mn last reported 0% of its portfolio in the stock. Arizona State Retirement holds 0% or 25,267 shares in its portfolio. Spark Inv Mngmt Ltd Co, a New York-based fund reported 14,500 shares.

Insider Transactions: Since June 7, 2016, the stock had 3 insider buys, and 5 insider sales for $226,126 net activity. $59,220 worth of Exar Corporation (NYSE:EXAR) was sold by Guilbault Pierre G. LOUGHEED JAMES bought $34,817 worth of stock. Shares for $58,261 were sold by Hilton Brian on Tuesday, June 7. On Wednesday, June 8 the insider Benton Ryan A bought $41,985. Wark Daniel sold $13,845 worth of stock.

About 114,415 shares traded hands. Exar Corporation (NYSE:EXAR) has risen 67.63% since April 20, 2016 and is uptrending. It has outperformed by 63.08% the S&P500.

Exar Corporation designs, develops and markets analog mixed-signal integrated circuits (ICs) and sub-system solutions. The company has a market cap of $494.36 million. 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. It currently has negative earnings. Exar’s product portfolio includes connectivity, power management, high performance analog, communications, processors, flat panel display and LED lighting.

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. $12 is the highest target while $7 is the lowest. The $9.38 average target is -5.92% below today’s ($9.97) stock price. Exar has been the topic of 8 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Tuesday, June 7 the stock rating was upgraded by B. Riley & Co to “Buy”. The company was maintained on Thursday, June 16 by Stifel Nicolaus. The firm has “Market Perform” rating given on Tuesday, October 20 by Cowen & Co. The rating was maintained by Cowen & Co with “Outperform” on Wednesday, August 5. The firm has “Buy” rating given on Monday, October 12 by Stifel Nicolaus. The firm has “Buy” rating given on Tuesday, November 10 by TH Capital. The stock of Exar Corporation (NYSE:EXAR) has “Market Perform” rating given on Thursday, May 12 by Cowen & Co. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, August 5 report.

More notable recent Exar Corporation (NYSE:EXAR) news were published by: Prnewswire.com which released: “Exar Corporation Appoints Division VP of Corporate Quality and Reliability” on November 16, 2016, also Fool.com with their article: “Why Exar Corporation Fell 17% Tuesday” published on October 20, 2015, Prnewswire.com published: “Exar Corporation Announces Ryan A. Benton’s Appointment as New CEO” on May 31, 2016. More interesting news about Exar Corporation (NYSE:EXAR) were released by: Prnewswire.com and their article: “Exar Corporation Schedules Fiscal 2017 Second Quarter Financial Results …” published on October 20, 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.

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.”

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment