Roth Capital Remains Bullish Following Exar Corp. (EXAR) 4Q15 Results

Roth Capital maintains their Buy rating on Exar Corp. (NYSE: EXAR), and lowers the price target to $13.00 (from $14.00), following 4Q15 results. EXAR reported revenues of $43.9 mm (up 57% y/y), and a proforma EPS of $0.11. The revenue increase was due, in part, to the iML acquisition targeting the high-end consumer flat panel TV and tablet display market and LED lighting market.

Roth Capital analyst, Krishna Shankar, commented on their view of EXAR, saying, "We view EXAR as a diversified analog/mixed signal semiconductor company developing proprietary solutions for the industrial/embedded, high-end consumer, and networking infrastructure market. Through organic development and targeted recent acquisitions including iML for high-end consumer flat panel displays and LED lighting, Cadeka for analog video signal processing and conditioning, Stretch for video processing and compression in security and surveillance applications, Altior for secure, high-speed data compression in big data and cloud applications, we believe that EXAR is poised for diversified growth ahead. In our opinion, Exar has a
diversified customer base (over 25K customers) served through OEM and distribution channel partners. Under CEO Lou DiNardo, we believe that EXAR has restructured and improved its operating efficiency while accelerating new analog/mixed signal, power management, signal conditioning/amplifiers, video compression, and data compression/security platforms through a combination of targeted R&D investments and acquisitions."

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 $10.05 yesterday.

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