Chipmaker Exar (EXAR) begins a new round of job reductions that, combined with a previous cut,...

|About: Exar Corporation (EXAR)|By:, SA News Editor

Chipmaker Exar (EXAR) begins a new round of job reductions that, combined with a previous cut, will eliminate ~40% of its workforce. The company also confirms earlier revenue guidance for FY 2012. In response, Wunderlich raises its target price for the shares to $8 from $6.50.