DSP Group (DSPG) Reaches New 1-Year High at $13.94

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Shares of DSP Group, Inc. (NASDAQ:DSPG) hit a new 52-week high during trading on Wednesday . The company traded as high as $13.94 and last traded at $13.92, with a volume of 2200 shares changing hands. The stock had previously closed at $13.63.

A number of brokerages have recently commented on DSPG. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of DSP Group in a report on Monday, March 4th. Zacks Investment Research upgraded DSP Group from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Thursday, January 10th. Finally, BidaskClub lowered DSP Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 17th. Five investment analysts have rated the stock with a buy rating, DSP Group has an average rating of “Buy” and an average price target of $14.67.

The stock has a market cap of $316.37 million, a PE ratio of 62.17, a PEG ratio of 4.33 and a beta of 0.76.

DSP Group (NASDAQ:DSPG) last released its earnings results on Monday, February 4th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $26.06 million for the quarter, compared to the consensus estimate of $26.50 million. DSP Group had a positive return on equity of 3.78% and a negative net margin of 1.67%. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, equities analysts forecast that DSP Group, Inc. will post 0.21 EPS for the current year.

In related news, Director Cynthia Paul bought 22,107 shares of the stock in a transaction that occurred on Monday, December 24th. The shares were acquired at an average price of $10.56 per share, with a total value of $233,449.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 87,193 shares of company stock worth $934,629. 5.25% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Algert Global LLC increased its position in DSP Group by 416.6% during the third quarter. Algert Global LLC now owns 61,990 shares of the semiconductor company’s stock worth $738,000 after buying an additional 49,990 shares during the last quarter. Vanguard Group Inc increased its position in DSP Group by 15.2% during the third quarter. Vanguard Group Inc now owns 1,500,678 shares of the semiconductor company’s stock worth $17,858,000 after buying an additional 197,804 shares during the last quarter. ETF Managers Group LLC increased its position in DSP Group by 14.8% during the fourth quarter. ETF Managers Group LLC now owns 30,201 shares of the semiconductor company’s stock worth $338,000 after buying an additional 3,903 shares during the last quarter. Wells Fargo & Company MN increased its position in DSP Group by 1.1% during the third quarter. Wells Fargo & Company MN now owns 918,911 shares of the semiconductor company’s stock worth $10,935,000 after buying an additional 9,557 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in DSP Group by 122.4% during the third quarter. Acadian Asset Management LLC now owns 45,681 shares of the semiconductor company’s stock worth $543,000 after buying an additional 25,142 shares during the last quarter. 79.01% of the stock is currently owned by institutional investors and hedge funds.

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About DSP Group (NASDAQ:DSPG)

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications worldwide. It operates through three segments: Home, Office, and SmartVoice. The company provides a portfolio of wireless chipsets that integrate DECT/CAT-iq, ULE, Wi-Fi, PSTN, HDClear, video, and VoIP technologies.

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