Exar Corporation (EXAR) was Reiterated by Cowen to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $7 . Cowen advised their investors in a research report released on May 12, 2016.
On the company’s financial health, Exar Corporation reported $0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 11, 2016. Analyst had a consensus of $0.09. The company had revenue of $36.78 million for the quarter, compared to analysts expectations of $38.28 million. The company’s revenue was down -16.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 EPS.
Exar Corporation opened for trading at $6.1 and hit $6.31 on the upside on Tuesday, eventually ending the session at $6.23, with a gain of 2.30% or 0.14 points. The heightened volatility saw the trading volume jump to 1,51,714 shares. Company has a market cap of $302 M.
In a different news, on Aug 14, 2015, Brian Hilton (director) sold 5,000 shares at $6.12 per share price. According to the SEC, on May 27, 2015, Richard L Leza (director) sold 8,500 shares at $11.06 per share price. On May 20, 2015, Gary Meyers (director) sold 12,000 shares at $10.68 per share price, according to the Form-4 filing with the securities and exchange commission.
Exar Corporation 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. Exar’s products are deployed in an array of applications such as servers and routers enterprise storage systems industrial control and process automation equipment set top boxes and digital video recorders. The Companys products are organized into six product lines: Connectivity Components Power Management Components Data Compression and Storage Solutions Communications Products High Performance Analog Components and Video Processor Solutions. The Company offers Universal Asynchronous Receiver or Transmitters solutions as well as serial transceiver devices. The Companys portfolio of products includes instrumentation hybrid amplifiers as well as high speed analog-to-digital converters and digital-to-analog converters.