DSP Group Inc. (DSPG) to Post FY2016 Earnings of $0.01 Per Share, Dougherty & Co Forecasts
DSP Group Inc. (NASDAQ:DSPG) – Equities research analysts at Dougherty & Co cut their FY2016 EPS estimates for DSP Group in a report released on Tuesday. Dougherty & Co analyst C. Anderson now anticipates that the firm will earn $0.01 per share for the year, down from their prior estimate of $0.09. Dougherty & Co also issued estimates for DSP Group’s Q1 2017 earnings at ($0.03) EPS and FY2017 earnings at $0.07 EPS.
Several other brokerages also recently weighed in on DSPG. Wunderlich increased their price target on DSP Group from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Roth Capital began coverage on DSP Group in a research report on Wednesday, August 31st. They issued a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC increased their price objective on DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research cut DSP Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. DSP Group currently has an average rating of “Buy” and a consensus price target of $12.58.
Shares of DSP Group (NASDAQ:DSPG) traded down 0.86% on Friday, hitting $11.48. 19,065 shares of the stock traded hands. DSP Group has a 12 month low of $7.89 and a 12 month high of $12.19. The company’s market cap is $251.34 million. The firm’s 50 day moving average is $11.71 and its 200-day moving average is $10.37.
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DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36 million. DSP Group had a negative net margin of 1.34% and a negative return on equity of 0.31%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
In related news, CFO Dror Levy sold 11,937 shares of DSP Group stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $11.72, for a total transaction of $139,901.64. Following the completion of the sale, the chief financial officer now owns 149,060 shares in the company, valued at approximately $1,746,983.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ofer Elyakim sold 45,000 shares of DSP Group stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $11.98, for a total value of $539,100.00. Following 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. 6.01% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of DSPG. Arizona State Retirement System boosted its stake in DSP Group by 3.8% in the first quarter. Arizona State Retirement System now owns 11,015 shares of the company’s stock worth $100,000 after buying an additional 400 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in DSP Group during the second quarter worth approximately $112,000. Emerald Acquisition Ltd. bought a new stake in DSP Group during the second quarter worth approximately $212,000. Alliancebernstein L.P. boosted its stake in DSP Group by 4.5% in the second quarter. Alliancebernstein L.P. now owns 25,300 shares of the company’s stock worth $268,000 after buying an additional 1,100 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in DSP Group by 6.8% in the second quarter. Teachers Advisors Inc. now owns 33,617 shares of the company’s stock worth $357,000 after buying an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors 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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