B. Riley Upgrades Exar Corporation to Buy with Price Target $10.50

Brokerage firm B. Riley Upgrades its rating on Exar Corporation(NYSE:EXAR). In a research note issued to the investors, the brokerage major Raises the price-target to $10.50 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by B. Riley was issued on Jun 7, 2016.

Exar Corporation (EXAR) shares turned negative on Fridays trading session with the shares closing down -0.21 points or -2.55% at a volume of 2,99,393. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.22. The peak price level was also seen at $8.22 while the days lowest was $7.9. Finally the shares closed at $8.02. The 52-week high of the shares is $10.92 while the 52-week low is $4.82. According to the latest information available, the market cap of the company is $390 M.

Exar Corporation(EXAR) last announced its earnings results on May 11, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $36.77M. Analysts had an estimated revenue of $38.38M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.09.

Several Insider Transactions has been reported to the SEC. On Aug 14, 2015, Brian Hilton (director) sold 5,000 shares at $6.12 per share price.Also, 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 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.

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