NEW YORK (
TheStreet) -- Billionaire hedge fund manager
George Soros bought another 100,000 shares in fabless semiconductor company
(EXAR - Get Report), 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%.
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.
Exar lowered its revenue outlook for the second quarter citing reduced demand. Its lower guidance was not unexpected, as leading chipmakers such as
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.
Exar has no long term debt and cash of about $25 million.
There is only one strong buy rating on the stock, while two analysts rate it a hold.
--Written by Shanthi Venkataraman in New York
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