Deswell Industries (NASDAQ:DSWL) Posts Earnings Results

Deswell Industries (NASDAQ:DSWL) announced its quarterly earnings results on Wednesday. The technology company reported $0.10 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $14.05 million during the quarter.

Deswell Industries Stock Up 0.9%

Shares of DSWL stock opened at $3.31 on Wednesday. Deswell Industries has a fifty-two week low of $2.31 and a fifty-two week high of $4.48. The stock has a market cap of $52.76 million, a P/E ratio of 6.90 and a beta of 0.66. The business has a fifty day simple moving average of $3.32 and a 200-day simple moving average of $3.39.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Deswell Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Deswell Industries stock. Royal Palms Capital LLC acquired a new position in shares of Deswell Industries, Inc. (NASDAQ:DSWL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries makes up 1.9% of Royal Palms Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Royal Palms Capital LLC owned approximately 2.89% of Deswell Industries as of its most recent filing with the SEC.

Deswell Industries Company Profile

Deswell Industries, Inc (NASDAQ: DSWL) is a China-based medical device company that designs, develops, manufactures and distributes airway management and respiratory care products. The company’s product portfolio includes laryngeal mask airways, disposable endotracheal tubes, nebulizers, oxygen therapy equipment, humidifiers and related ventilator accessories. Deswell’s devices are used in hospitals, clinics and home-care settings to support anesthesia, emergency medicine and respiratory treatment.

Founded in 2003 and headquartered in Shenzhen, Deswell operates multiple manufacturing facilities that comply with international quality standards, including FDA 510(k) clearances and CE markings for many of its devices.