Exar Corporation Buyback
OLI recorded this information on 7/9/2013
Exar Corporation (Nasdaq: EXAR), a leading provider of high-performance analog mixed-signal products and data management solutions, announced that its Board of Directors has authorized, but not obligated, the Company to repurchase up to an additional $50 million of its outstanding common stock. Ryan Benton, Exar SVP and CFO, commented, "As we demonstrate consistent profitability and free cash flow from operations, the authorization to repurchase up to $50 million of outstanding stock provides us flexibility to manage and allocate capital in our efforts to maximize shareholder return." The timing and amount of share repurchases will be determined by the Company's management based on its evaluation of market conditions, the trading price of the stock and other factors. This repurchase program may be modified, extended or terminated by the Board of Directors at any time.
Exar designs, develops and markets analog mixed-signal integrated circuits and sub-system products for the industrial and embedded systems, consumer and infrastructure markets. Co.'s product portfolio includes connectivity, power management, high performance analog, communications, processors, flat panel display and LED lighting. Co.'s connectivity products serve data and telecommunications, networking and storage, industrial control and embedded applications. Co.'s high performance analog products include hybrid amplifiers and high speed converters. Co.'s communication products include mixed signal clock and data recovery circuits, transceivers, protocol framers and service mappers.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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