Russell Investments Group Ltd. lifted its stake in DSP Group, Inc. (NASDAQ:DSPG) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,514 shares of the semiconductor company’s stock after buying an additional 4,299 shares during the period. Russell Investments Group Ltd. owned approximately 0.18% of DSP Group worth $470,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its position in shares of DSP Group by 1.8% in the 1st quarter. Arizona State Retirement System now owns 11,315 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 200 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of DSP Group by 39.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 18,821 shares of the semiconductor company’s stock valued at $226,000 after buying an additional 5,297 shares during the last quarter. State of Tennessee Treasury Department grew its position in shares of DSP Group by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 19,901 shares of the semiconductor company’s stock valued at $239,000 after buying an additional 3,003 shares during the last quarter. Comerica Bank grew its position in shares of DSP Group by 2.7% in the 1st quarter. Comerica Bank now owns 23,905 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 637 shares during the last quarter. Finally, Nationwide Fund Advisors grew its position in shares of DSP Group by 92.7% in the 1st quarter. Nationwide Fund Advisors now owns 25,499 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 12,266 shares during the last quarter. 74.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DSP Group, Inc. (NASDAQ DSPG) traded up 0.81% during mid-day trading on Thursday, reaching $12.40. 10,775 shares of the company were exchanged. The firm has a market capitalization of $275.89 million, a price-to-earnings ratio of 95.38 and a beta of 0.90. DSP Group, Inc. has a 12 month low of $9.80 and a 12 month high of $14.20. The company’s 50-day moving average is $11.93 and its 200 day moving average is $11.96.
DSP Group (NASDAQ:DSPG) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. DSP Group had a net margin of 2.40% and a return on equity of 3.47%. The firm had revenue of $31.30 million during the quarter, compared to analyst estimates of $30.93 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. Analysts predict that DSP Group, Inc. will post $0.20 EPS for the current year.
DSP Group declared that its board has approved a stock repurchase program on Monday, August 14th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other DSP Group news, CFO Dror Levy sold 5,937 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $12.18, for a total transaction of $72,312.66. Following the completion of the sale, the chief financial officer now owns 169,060 shares in the company, valued at $2,059,150.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.01% of the stock is owned by insiders.
A number of research analysts recently commented on DSPG shares. Needham & Company LLC increased their target price on shares of DSP Group from $12.50 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. BidaskClub raised shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research upgraded shares of DSP Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.83.
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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