DSP Group Inc. (DSPG) Sets New 52-Week High at $12.15
DSP Group Inc. (NASDAQ:DSPG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.15 and last traded at $12.07, with a volume of 35,947 shares changing hands. The stock had previously closed at $11.89.
DSPG has been the subject of several recent research reports. Wunderlich lifted their price objective on DSP Group from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Canaccord Genuity initiated coverage on DSP Group in a research note on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research cut DSP Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, Needham & Company LLC boosted their target price on DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.58.
The stock’s market cap is $262.73 million. The company has a 50-day moving average of $11.28 and a 200-day moving average of $10.11.
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DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company earned $36.20 million during the quarter, compared to analyst estimates of $36 million. DSP Group had a negative return on equity of 0.31% and a negative net margin of 1.34%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that DSP Group Inc. will post $0.31 EPS for the current year.
In other news, CFO Dror Levy sold 11,937 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $11.72, for a total value of $139,901.64. Following the completion of the sale, the chief financial officer now owns 149,060 shares in the company, valued at $1,746,983.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ofer Elyakim sold 45,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $11.98, for a total value of $539,100.00. Following the completion of the sale, the chief executive officer now owns 442,302 shares of the company’s stock, valued at approximately $5,298,777.96. The disclosure for this sale can be found here. Company insiders own 6.01% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in DSP Group by 9.0% in the second quarter. Vanguard Group Inc. now owns 1,074,533 shares of the company’s stock worth $11,400,000 after buying an additional 88,360 shares during the period. Kennedy Capital Management Inc. raised its stake in DSP Group by 75.3% in the first quarter. Kennedy Capital Management Inc. now owns 194,808 shares of the company’s stock worth $1,777,000 after buying an additional 83,701 shares during the period. Zacks Investment Management bought a new stake in DSP Group during the second quarter worth about $619,000. BlackRock Fund Advisors raised its stake in DSP Group by 2.6% in the second quarter. BlackRock Fund Advisors now owns 1,472,478 shares of the company’s stock worth $15,623,000 after buying an additional 37,892 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in DSP Group by 64.2% in the first quarter. Panagora Asset Management Inc. now owns 96,373 shares of the company’s stock worth $879,000 after buying an additional 37,668 shares during the period. Institutional investors and hedge funds own 76.53% of the company’s stock.
About DSP Group
DSP Group, Inc is a provider of wireless chipset solutions for converged communications. The Company delivers semiconductor system solutions with software and hardware reference designs and enables original equipment manufacturers (OEMs), original design manufacturers (ODMs), consumer electronics (CE) manufacturers and service providers to develop products.
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