Exar (Nasdaq: EXAR) is expected to report Q2 earnings on Oct. 24. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Exar's revenues will shrink -16.4% and EPS will grow 33.3%.

The average estimate for revenue is $30.2 million. On the bottom line, the average EPS estimate is $0.04.

Revenue details
Last quarter, Exar logged revenue of $29.3 million. GAAP reported sales were 21% lower than the prior-year quarter's $37.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.03. GAAP EPS were -$0.01 for Q1 against -$0.03 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 47.4%, 100 basis points worse than the prior-year quarter. Operating margin was -1.0%, 390 basis points better than the prior-year quarter. Net margin was -2.0%, 190 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $123.1 million. The average EPS estimate is $0.18.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 77 members out of 81 rating the stock outperform, and four members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 17 give Exar a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Exar is outperform, with an average price target of $8.80.

Is Exar the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.