DSP Group (NASDAQ:DSPG) Lowered to Hold at ValuEngine

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ValuEngine lowered shares of DSP Group (NASDAQ:DSPG) from a buy rating to a hold rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other brokerages have also recently commented on DSPG. BidaskClub cut shares of DSP Group from a buy rating to a hold rating in a research note on Friday, August 30th. Zacks Investment Research cut shares of DSP Group from a buy rating to a hold rating in a research note on Monday, July 29th. Dougherty & Co reiterated a buy rating and issued a $20.00 price target (up previously from $16.00) on shares of DSP Group in a research note on Tuesday, May 7th. Cowen reiterated an outperform rating and issued a $17.00 price target (up previously from $15.00) on shares of DSP Group in a research note on Tuesday, May 7th. Finally, Needham & Company LLC set a $18.00 price target on shares of DSP Group and gave the company a buy rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $18.25.

DSP Group stock traded up $0.40 during mid-day trading on Wednesday, reaching $14.03. The company’s stock had a trading volume of 1,029 shares, compared to its average volume of 77,662. The company has a market capitalization of $310.36 million, a price-to-earnings ratio of 61.22, a price-to-earnings-growth ratio of 12.31 and a beta of 0.78. DSP Group has a 12 month low of $10.15 and a 12 month high of $16.30. The business’s 50 day simple moving average is $14.54 and its 200 day simple moving average is $14.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.79 and a current ratio of 3.19.

DSP Group (NASDAQ:DSPG) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $29.03 million during the quarter, compared to the consensus estimate of $29.00 million. DSP Group had a negative net margin of 1.30% and a positive return on equity of 4.53%. As a group, sell-side analysts expect that DSP Group will post 0.07 EPS for the current year.

In other DSP Group news, CFO Dror Levy sold 17,171 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $14.69, for a total value of $252,241.99. Following the completion of the sale, the chief financial officer now owns 188,171 shares in the company, valued at $2,764,231.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of DSP Group by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 30,655 shares of the semiconductor company’s stock worth $440,000 after buying an additional 866 shares during the last quarter. Quantamental Technologies LLC raised its stake in DSP Group by 111.1% in the 2nd quarter. Quantamental Technologies LLC now owns 2,516 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 1,324 shares in the last quarter. Alambic Investment Management L.P. raised its stake in DSP Group by 2.5% in the 2nd quarter. Alambic Investment Management L.P. now owns 61,395 shares of the semiconductor company’s stock worth $882,000 after purchasing an additional 1,481 shares in the last quarter. Prudential Financial Inc. raised its stake in DSP Group by 5.0% in the 2nd quarter. Prudential Financial Inc. now owns 31,625 shares of the semiconductor company’s stock worth $454,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in DSP Group by 473.6% in the 2nd quarter. Bank of Montreal Can now owns 4,107 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 3,391 shares in the last quarter. Institutional investors own 82.04% of the company’s stock.

DSP Group Company Profile

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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