Assenagon Asset Management S.A. trimmed its holdings in DSP Group, Inc. (NASDAQ:DSPG) by 22.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,820 shares of the semiconductor company’s stock after selling 38,366 shares during the period. Assenagon Asset Management S.A.’s holdings in DSP Group were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Quantamental Technologies LLC lifted its stake in shares of DSP Group by 111.1% in the second quarter. Quantamental Technologies LLC now owns 2,516 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 1,324 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of DSP Group by 473.6% in the second quarter. Bank of Montreal Can now owns 4,107 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 3,391 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of DSP Group in the second quarter valued at $144,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of DSP Group in the second quarter valued at $172,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of DSP Group in the second quarter valued at $194,000. 78.50% of the stock is currently owned by hedge funds and other institutional investors.
DSPG has been the topic of a number of recent research reports. ValuEngine lowered shares of DSP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Needham & Company LLC set a $18.00 price objective on shares of DSP Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research raised shares of DSP Group from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, October 9th. Finally, BidaskClub downgraded shares of DSP Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.50.
DSP Group (NASDAQ:DSPG) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company 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, research analysts expect that DSP Group, Inc. will post 0.07 earnings per share for the current fiscal year.
In other news, CFO Dror Levy sold 17,829 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $15.56, for a total value of $277,419.24. Following the completion of the sale, the chief financial officer now owns 201,000 shares in the company, valued at $3,127,560. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.70% of the company’s stock.
About DSP Group
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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