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George Soros Continues to Accumulate Exar Shares

March 23, 2011 | About:
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gurufocus

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Billion investor George Soros has continued his trend of accumulating large bundles of Exar (EXAR) stock in recent days. He made three large purchases in March as the stock price fell. On Friday, he purchased over 11700 shares at $5.95 per share; the day prior, he purchased over 13300 again at $6.1 per share; and on March 14, he purchased more than 13300 at $6.1 per share. He has been making even more large purchases of this stock periodically over the last several years, beginning in 2009. Overall, Soros lost about 12% in the shares he bought since the second quarter of 2009. Exar accounts for less than 1% of the portfolio of George Soros.

Exar, a company that designs semiconductors for storage applications, has had mixed performance in recent quarters, making Soros' reasons for investing in it ambiguous. For instance, its net sales have consistently increased from $30.9 million for the first quarter of fiscal 2010, to $39.6 million in the first quarter of fiscal 2011.

On the other hand, Exar's earnings per share has hovered in the negative for almost the last five years, though it has been losing less money. For the quarter ended on Dec. 31, the company lost $-0.11 a share.

Though it is difficult to decipher Soros' justification for acquiring stock in Exar at every price dip, their previous earnings call hinted that big developments and new technologies were upcoming in the last half of 2011. Just what those new products might entail or where Exar is going in the future apparently Soros foresees.

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