DSP Group, Inc. (NASDAQ:DSPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors, portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. “
Several other analysts also recently commented on the stock. Wunderlich downgraded shares of DSP Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $13.00 in a research report on Tuesday, April 25th. Dougherty & Co boosted their target price on shares of DSP Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Lake Street Capital reissued a “buy” rating and issued a $14.00 target price (up from $12.00) on shares of DSP Group in a research report on Friday, April 28th. Needham & Company LLC boosted their target price on shares of DSP Group from $12.50 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Benchmark Co. initiated coverage on shares of DSP Group in a research report on Tuesday, April 25th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $13.86.
Shares of DSP Group (NASDAQ DSPG) traded down 0.43% during trading on Thursday, hitting $11.70. 45,792 shares of the stock were exchanged. DSP Group has a 12-month low of $9.80 and a 12-month high of $14.20. The stock’s 50 day moving average is $11.96 and its 200-day moving average is $11.66. The stock has a market cap of $259.51 million, a price-to-earnings ratio of 90.00 and a beta of 0.88.
DSP Group (NASDAQ:DSPG) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The company had revenue of $31.30 million during the quarter, compared to the consensus estimate of $30.93 million. DSP Group had a net margin of 2.40% and a return on equity of 3.47%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. Equities research analysts anticipate that DSP Group will post $0.20 EPS for the current year.
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In other DSP Group news, CFO Dror Levy sold 5,937 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $12.18, for a total value of $72,312.66. Following the completion of the sale, the chief financial officer now directly owns 169,060 shares of the company’s stock, valued at $2,059,150.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.01% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors increased its stake in DSP Group by 12.5% in the second quarter. Nationwide Fund Advisors now owns 28,699 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 3,200 shares in the last quarter. Ameriprise Financial Inc. increased its stake in DSP Group by 21.3% in the second quarter. Ameriprise Financial Inc. now owns 137,761 shares of the semiconductor company’s stock valued at $1,598,000 after buying an additional 24,182 shares in the last quarter. Alliancebernstein L.P. increased its stake in DSP Group by 51.1% in the second quarter. Alliancebernstein L.P. now owns 35,800 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 12,100 shares in the last quarter. Wells Fargo & Company MN increased its stake in DSP Group by 0.5% in the second quarter. Wells Fargo & Company MN now owns 840,994 shares of the semiconductor company’s stock valued at $9,756,000 after buying an additional 4,157 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in DSP Group by 2.6% in the second quarter. Principal Financial Group Inc. now owns 168,620 shares of the semiconductor company’s stock valued at $1,956,000 after buying an additional 4,276 shares in the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
DSP Group Company Profile
DSP Group, Inc is a global provider of wireless and audio chipset solutions for converged communications. Delivering semiconductor system solutions with software and hardware reference designs, the Company enables original equipment manufacturers, original design manufacturers, consumer electronics manufacturers and service providers to develop new products.
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