Exar Corporation (EXAR) Releases Earnings Results, Beats Expectations By $0.01 EPS

Exar Corporation (EXAR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.07. The company posted revenue of $27.10 million in the period, compared to analysts expectations of $26.57 million. The company’s revenue was down -3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Exar Corporation. Company shares were Reiterated by Stifel on Jun 16, 2016 to “Buy”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Company shares were Reiterated by Stifel on Jun 6, 2016 to “Buy”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .Company shares were Reiterated by Cowen on May 12, 2016 to “Market Perform”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .

Exar Corporation closed down -0.32 points or -3.82% at $8.05 with 3,30,232 shares getting traded on Tusday. Post opening the session at $8.3, the shares hit an intraday low of $8.04 and an intraday high of $8.37 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jun 10, 2016, James Lougheed (Senior VP, Sales and Marketing) purchased 4,230 shares at $8.21 per share price. According to the SEC, on Jun 8, 2016, Pierre G Guilbault (director) sold 7,000 shares at $8.46 per share price. On Jun 8, 2016, Ryan A Benton (CFO) purchased 5,000 shares at $8.40 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 Company’s 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 Company’s portfolio of products includes instrumentation hybrid amplifiers as well as high speed analog-to-digital converters and digital-to-analog converters.

Exar Corporation

Leave a Reply

Exar Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Exar Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.