FY2016 EPS Estimates for DSP Group Inc. (DSPG) Cut by Analyst
DSP Group Inc. (NASDAQ:DSPG) – Equities research analysts at Lake Street Capital cut their FY2016 EPS estimates for shares of DSP Group in a research note issued to investors on Wednesday. Lake Street Capital analyst J. Schmidt now forecasts that the brokerage will earn $0.04 per share for the year, down from their prior estimate of $0.10. Lake Street Capital also issued estimates for DSP Group’s Q4 2016 earnings at $0.02 EPS, Q2 2017 earnings at $0.03 EPS and FY2017 earnings at $0.16 EPS.
Several other research firms have also recently weighed in on DSPG. Roth Capital initiated coverage on DSP Group in a report on Wednesday, August 31st. They set a “buy” rating and a $14.00 price target for the company. Needham & Company LLC raised their price target on DSP Group from $11.00 to $12.50 and gave the company a “buy” rating in a report on Monday, August 1st. Wunderlich raised their price target on DSP Group from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Canaccord Genuity initiated coverage on DSP Group in a report on Tuesday, August 9th. They set a “buy” rating and a $14.00 price target for the company. Finally, TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a report on Monday, August 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $12.58.
Shares of DSP Group (NASDAQ:DSPG) traded down 1.18% during mid-day trading on Thursday, reaching $10.01. The company’s stock had a trading volume of 38,673 shares. The company’s 50-day moving average price is $11.62 and its 200-day moving average price is $10.43. DSP Group has a 12-month low of $7.89 and a 12-month high of $12.19. The stock’s market capitalization is $219.16 million.
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DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data 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. DSP Group had a negative return on equity of 0.31% and a negative net margin of 1.34%. The company earned $36.20 million during the quarter, compared to analyst estimates of $36 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. DSP Group’s revenue was down 2.9% on a year-over-year basis.
In other news, CFO Dror Levy sold 11,937 shares of DSP Group stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 149,060 shares in the company, valued at approximately $1,746,983.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ofer Elyakim sold 45,000 shares of DSP Group stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $11.98, for a total value of $539,100.00. Following the completion of the transaction, 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 insiders.
Institutional investors have recently made changes to their positions in the company. Roumell Asset Management LLC boosted its position in shares of DSP Group by 8.1% in the first quarter. Roumell Asset Management LLC now owns 331,186 shares of the company’s stock worth $3,020,000 after buying an additional 24,835 shares during the period. Kennedy Capital Management Inc. boosted its position in shares of 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. Cadence Capital Management LLC boosted its position in shares of DSP Group by 13.4% in the second quarter. Cadence Capital Management LLC now owns 105,779 shares of the company’s stock worth $1,122,000 after buying an additional 12,502 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of DSP Group during the second quarter worth approximately $212,000. Finally, Prudential Financial Inc. boosted its position in shares of DSP Group by 1.6% in the first quarter. Prudential Financial Inc. now owns 58,367 shares of the company’s stock worth $532,000 after buying an additional 900 shares during the period. 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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