The stock of Exar Corporation (NYSE:EXAR) hit a new 52-week high and has $10.75 target or 6.00% above today’s $10.14 share price. The 6 months bullish chart indicates low risk for the $509.40 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $10.75 price target is reached, the company will be worth $30.56M 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 49,012 shares traded hands. Exar Corporation (NYSE:EXAR) has risen 68.89% since April 25, 2016 and is uptrending. It has outperformed by 62.87% the S&P500.
Analysts await Exar Corporation (NYSE:EXAR) to report earnings on February, 1. They expect $0.02 earnings per share, down 60.00% or $0.03 from last year’s $0.05 per share. EXAR’s profit will be $1.00 million for 126.50 P/E if the $0.02 EPS becomes a reality. After $0.05 actual earnings per share reported by Exar Corporation for the previous quarter, Wall Street now forecasts -60.00% 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. As per Tuesday, October 20, the company rating was downgraded by Cowen & Co. B. Riley & Co upgraded it to “Buy” rating and $10.50 target price in Tuesday, June 7 report. The rating was maintained by Stifel Nicolaus on Thursday, June 16 with “Buy”. As per Tuesday, November 10, the company rating was maintained by TH Capital. Stifel Nicolaus maintained Exar Corporation (NYSE:EXAR) on Wednesday, August 5 with “Buy” rating. Stifel Nicolaus maintained Exar Corporation (NYSE:EXAR) on Monday, October 12 with “Buy” rating. The firm earned “Market Perform” rating on Thursday, May 12 by Cowen & Co. Cowen & Co maintained the shares of EXAR in a report on Wednesday, August 5 with “Outperform” rating.
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 1.4 in 2016 Q2. Its down 0.09, from 1.49 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.
Capstone Asset Management has 12,460 shares for 0% of their US portfolio. Mesirow Fincl Invest Mgmt holds 0.02% of its portfolio in Exar Corporation (NYSE:EXAR) for 34,370 shares. Bnp Paribas Arbitrage Sa last reported 0% of its portfolio in the stock. The New York-based Blackrock Incorporated has invested 0% in Exar Corporation (NYSE:EXAR). Wellington Management Grp Limited Liability Partnership holds 0.01% of its portfolio in Exar Corporation (NYSE:EXAR) for 3.27 million shares. Diam accumulated 0.02% or 159,700 shares. The New York-based Tiaa Cref Investment Mngmt Llc has invested 0% in Exar Corporation (NYSE:EXAR). Kalmar De, a Delaware-based fund reported 420,477 shares. Deutsche Bancorp Ag reported 212,444 shares or 0% of all its holdings. Employees Retirement Association Of Colorado, a Colorado-based fund reported 24,400 shares. Moreover, Metropolitan Life New York has 0% invested in Exar Corporation (NYSE:EXAR) for 29,200 shares. Royal Financial Bank Of Canada holds 0% or 22,209 shares in its portfolio. Thompson Davis And Com has 0.4% invested in the company for 30,994 shares. Northern holds 0% of its portfolio in Exar Corporation (NYSE:EXAR) for 506,761 shares. Vanguard Group Incorporated has 0% invested in the company for 2.18 million shares.
Insider Transactions: Since June 7, 2016, the stock had 3 insider buys, and 5 insider sales for $226,126 net activity. 7,000 Exar Corporation (NYSE:EXAR) shares with value of $59,220 were sold by Guilbault Pierre G. On Wednesday, June 8 Benton Ryan A bought $41,985 worth of the stock or 5,000 shares. Wark Daniel sold $13,845 worth of Exar Corporation (NYSE:EXAR) on Wednesday, August 10. LOUGHEED JAMES had sold 16,446 shares worth $138,146. Shares for $58,261 were sold by Hilton Brian.
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 Prnewswire.com with their article: “Exar Completes Divestiture of iML Subsidiary to Beijing E-Town Chipone” published on November 09, 2016, 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: Fool.com and their article: “Why Exar Corporation Fell 17% Tuesday” published on October 20, 2015 as well as Reuters.com‘s news article titled: “BRIEF-Simcoe Capital reports 5.2 pct stake in Exar Corp” with publication date: November 22, 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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