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George Soros Buys Another 100,000 Exar Shares

Stocks in this article: EXAR

NEW YORK ( TheStreet) -- Billionaire hedge fund manager George Soros bought another 100,000 shares in fabless semiconductor company Exar (EXAR), according to the latest filing with the Securities and Exchange Commission.

Soros has been accumulating shares in the company. Between Sept. 21 and Sept. 23, he bought 1.85 million shares in the company. In total, Soros now owns 6.36 million shares in the company, up from 3.86 million shares as of June 30, bring his total stake in the company to about 14%.

About Exar

Company Profile

Exar Corporation is a fabless semiconductor company, which is engaged in the design, contract manufacture and sale of silicon, software and subsystem solutions for industrial, datacom and storage applications.

Income Statement

Exar lowered its revenue outlook for the second quarter citing reduced demand. Its lower guidance was not unexpected, as leading chipmakers such as Intel (INTC) and Texas Instruments (TXN) had also cited similar concerns. The company now expects second-quarter revenue of $36-$36.5 million compared with its previous projection of $40-$42 million.

Balance Sheet

Exar has no long term debt and cash of about $25 million.

Analyst Ratings

There is only one strong buy rating on the stock, while two analysts rate it a hold.

--Written by Shanthi Venkataraman in New York



>To contact the writer of this article, click here: Shanthi Venkataraman.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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