Soros Trims Exposure to Exar Corporation (EXAR)

Soros Fund Management, led by George Soros, has recently disposed a significant chunk of its Exar Corporation (NYSE:EXAR) holding. The fund sold last week 985,708 shares of the company, at a price of $12.14 apiece. Following the deal, the amount of shares held by Soros was reduced to some 4.96 million shares.

George Soros

The position held currently by Soros amasses around 10.4% of the company’s common stock, taking into account the total amount of shares disclosed by the fund as outstanding in their latest 10-Q report. Exar Corporation (NYSE:EXAR) is engaged in design and development of high-performance integrated circuits for Networking, Storage and Communication Infrastructure markets.

A couple of days before Soros shortened the holding in Exar Corporation (NYSE:EXAR), the company disclosed about the acquisition of Stretch, a ccompany engaged in production of configurable processors for the video surveillance market. Amid the news, the stock of the company gained around 4%.

Soros went bullish on the stock a couple of years ago, while during mid-2010 until mid-2011 he significantly boosted its stake in a lot of transactions and reported holding around 6.67 million shares in May 2011. The price of the acquisition was below $6.60 per share back then, so the selling price of over $12 per share, made a good bargain for Soros.

Aside from Soros, some other notorious investors have also been holding long positions in Exar Corporation (NYSE:EXAR). One of them is Chuck Royce‘s Royce & Associates, which recently slightly increased its stake in the company to 2.62 million shares,  from 2.51 million held earlier. Another one is Jim Simons‘ Renaissance Technologies, which in its latest 13F revealed holding around 2.35 million shares of the company.

George Soros is not just one of the richest people in the world, but also one of the most talented investors. Aside from Exar, a couple of weeks ago, Soros trimmed its exposure to another company: Digital River, Inc. (NASDAQ:DRIV), in which he sold $5.683 million worth of bonds.

Disclosure: none

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