Zacks Investment Research Downgrades DSP Group Inc. (DSPG) to Sell
DSP Group Inc. (NASDAQ:DSPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors, portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. “
Other equities analysts also recently issued reports about the stock. Wunderlich upped their target price on shares of DSP Group from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Roth Capital initiated coverage on shares of DSP Group in a research note on Wednesday, August 31st. They issued a “buy” rating and a $14.00 target price on the stock. Canaccord Genuity initiated coverage on shares of DSP Group in a research note on Tuesday, August 9th. They issued a “buy” rating and a $14.00 target price on the stock. Needham & Company LLC upped their target price on shares of DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Monday, August 1st. Finally, TheStreet upgraded shares of DSP Group from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $12.58.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/zacks-investment-research-downgrades-dsp-group-inc-dspg-to-sell.html
Shares of DSP Group (NASDAQ:DSPG) traded down 1.45% during trading on Tuesday, reaching $10.20. 52,662 shares of the company were exchanged. The firm’s market capitalization is $223.32 million. DSP Group has a 1-year low of $7.89 and a 1-year high of $12.19. The company’s 50-day moving average is $11.43 and its 200 day moving average is $10.47.
DSP Group (NASDAQ:DSPG) last issued its earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The business had revenue of $36.20 million for the quarter, compared to the consensus estimate 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 for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. Equities research analysts expect that DSP Group will post $0.30 EPS for the current fiscal year.
In related news, CFO Dror Levy sold 11,937 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were 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 of the company’s stock, valued at $1,746,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ofer Elyakim sold 45,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $11.98, for a total transaction of $539,100.00. Following the sale, the chief executive officer now directly 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. Corporate insiders own 6.01% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans purchased a new stake in DSP Group during the second quarter worth approximately $112,000. Arizona State Retirement System boosted its stake in DSP Group by 2.7% in the second quarter. Arizona State Retirement System now owns 11,315 shares of the company’s stock worth $120,000 after buying an additional 300 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in DSP Group during the second quarter worth approximately $212,000. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in DSP Group by 33.3% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 20,000 shares of the company’s stock worth $240,000 after buying an additional 5,000 shares during the last quarter. Finally, 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 during the last quarter. 76.52% of the stock is owned by institutional investors.
DSP Group Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DSP Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DSP Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.