George Soros Further Reduces Stake In Exar Corporation (EXAR)

George Soros has decided to further trim his stake in Exar Corporation (NYSE:EXAR) and has sold 26,577 shares in two transactions at prices of $11.23 and $11.24 apiece, according to a recent filing with the Securities and Exchange Commission. As a result, his fund, Soros Fund Management is now holding approximately 4.93 million shares, which, given the current market price of $11.12, carries a value in excess of $54.9 million. In January, George Soros has already reduced exposure to Exar Corporation, selling approximately 985,700 shares.

George Soros

A producer of integrated circuits, Exar Corporation (NYSE:EXAR) has a market cap of $517 million and does not pay a dividend. The stock carries a Price to Earnings (P/E) ratio of 76.xx, significantly higher than the industry average of 24.70. The company has registered $30.7 million in revenues and a loss per share of $0.03 for the 13 weeks ending December 29, 2013. Analysts estimate revenues of $28.4 million and earnings of $0.00 per share for the first quarter of 2014.

Another hedge fund guru who has reduced his fund’s exposure to Exar Corporation (NYSE:EXAR) is Jim Simons. During the last quarter of 2013, his fund, Renaissance Technologies, has trimmed its stake by 5% to 2.24 million shares. On the other hand, Chuck Royce has increased his fund’s investment in the company by 4% during the same period of time. In its latest 13F filing, Royce & Associates has reported ownership of 2.62 million shares worth approximately $30.8 million.

Soros Fund Management has disclosed earlier this year and increase in its holding of Penn Virginia Corporation (NYSE:PVA) to a little over 6 million shares, which account for 9.18% of the company’s common stock. George Soros also became a fan of Polycom Inc (NASDAQ:PLCM), with Soros Fund Management announcing a massive new stake in the company earlier this year. The fund how holds 9.40 million shares or 6.95% of the total number of shares outstanding.

Disclosure: none.

Recommended reading:

Soros Fund Management Disposes More Digital River, Inc. (DRIV) Bonds

George Soros and Jeff Altman Are Both Betting On These Six Stocks

Billionaire George Soros’ Top Stock Picks

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

The 20 Biggest Contracts in MLB History

The 7 Worst Blown Calls in Sports History

7 Free Ways to Advertise Your Business Online

The 18 Best R&B Songs of the 90’s

The 10 Most Dangerous States to be a Cop

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!