Needham & Company Starts Exar Corp. (EXAR) at Buy

April 3, 2013 8:10 AM EDT
Get Alerts EXAR Hot Sheet
Price: $10.08 -0.1%

Rating Summary:
    6 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company initiated coverage on Exar Corp. (NASDAQ: EXAR) with a Buy rating and a price target of $13.00. Analyst Vernon Essi, Jr offered a positive view of management's efforts to restructure the company. With a turnaround in the works, he thinks the stock should trade with a higher multiple.

"Exar should trade in line with its analog/mixed signal peers at 13x 2014E EPS plus cash, or $13, on our CY2014 EPS estimate of $0.64 and $4.30 in net cash per share," said Essi.

For an analyst ratings summary and ratings history on Exar Corp. click here. For more ratings news on Exar Corp. click here.

Shares of Exar Corp. closed at $10.18 yesterday.

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