Brokerages Anticipate DSP Group, Inc. (DSPG) Will Post Quarterly Sales of $30.67 Million
Analysts expect that DSP Group, Inc. (NASDAQ:DSPG) will report $30.67 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for DSP Group’s earnings, with the highest sales estimate coming in at $31 million and the lowest estimate coming in at $30 million. DSP Group reported sales of $36.16 million in the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The company is scheduled to announce its next earnings report on Monday, August 7th.
On average, analysts expect that DSP Group will report full-year sales of $30.67 million for the current financial year, with estimates ranging from $127.09 million to $128 million. For the next year, analysts expect that the firm will post sales of $135.93 million per share, with estimates ranging from $133.6 million to $137.9 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover DSP Group.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Thursday, April 27th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The company had revenue of $27.90 million for the quarter, compared to analyst estimates of $27.55 million. DSP Group had a net margin of 3.49% and a return on equity of 2.34%. DSP Group’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share.
DSPG has been the topic of a number of recent analyst reports. Wunderlich downgraded shares of DSP Group from a “buy” rating to a “hold” rating and increased their price objective for the company from $12.00 to $13.00 in a research report on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective (up from $12.50) on shares of DSP Group in a research report on Thursday, April 6th. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price objective on shares of DSP Group in a research report on Tuesday, January 31st. Lake Street Capital reissued a “buy” rating and issued a $14.00 price objective (up from $12.00) on shares of DSP Group in a research report on Friday, April 28th. Finally, Dougherty & Co increased their price objective on shares of DSP Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.86.
In other DSP Group news, CFO Dror Levy sold 11,962 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $12.46, for a total value of $149,046.52. Following the sale, the chief financial officer now directly owns 159,060 shares of the company’s stock, valued at approximately $1,981,887.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.01% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in DSP Group by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 307,435 shares of the semiconductor company’s stock worth $3,692,000 after buying an additional 23,394 shares during the period. Zacks Investment Management increased its position in DSP Group by 8.2% in the third quarter. Zacks Investment Management now owns 63,069 shares of the semiconductor company’s stock worth $757,000 after buying an additional 4,774 shares during the period. Russell Investments Group Ltd. bought a new position in DSP Group during the fourth quarter worth approximately $290,000. Cadence Capital Management LLC increased its position in DSP Group by 2.6% in the fourth quarter. Cadence Capital Management LLC now owns 92,343 shares of the semiconductor company’s stock worth $1,205,000 after buying an additional 2,341 shares during the period. Finally, Comerica Bank increased its position in DSP Group by 5.6% in the fourth quarter. Comerica Bank now owns 23,268 shares of the semiconductor company’s stock worth $273,000 after buying an additional 1,236 shares during the period. 78.44% of the stock is currently owned by hedge funds and other institutional investors.
DSP Group (NASDAQ:DSPG) opened at 12.05 on Friday. The stock has a market capitalization of $266.32 million, a price-to-earnings ratio of 58.21 and a beta of 0.97. DSP Group has a one year low of $9.36 and a one year high of $14.20. The company’s 50-day moving average is $12.21 and its 200 day moving average is $11.54.
About DSP Group
DSP Group, Inc is a global provider of wireless and audio chipset solutions for converged communications. Delivering semiconductor system solutions with software and hardware reference designs, the Company enables original equipment manufacturers, original design manufacturers, consumer electronics manufacturers and service providers to develop new products.
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