Analysts Anticipate DSP Group, Inc. (DSPG) Will Post Quarterly Sales of $31.00 Million
Equities analysts predict that DSP Group, Inc. (NASDAQ:DSPG) will announce $31.00 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for DSP Group’s earnings. DSP Group reported sales of $36.16 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The company is expected to issue its next earnings results on Monday, August 7th.
According to Zacks, analysts expect that DSP Group will report full-year sales of $31.00 million for the current financial year, with estimates ranging from $127.09 million to $128.00 million. For the next financial year, analysts expect that the firm will report sales of $136.17 million per share, with estimates ranging from $133.60 million to $137.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover DSP Group.
DSP Group (NASDAQ:DSPG) last released its earnings results on Thursday, April 27th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. DSP Group had a net margin of 3.49% and a return on equity of 2.34%. The business had revenue of $27.90 million for the quarter, compared to analysts’ expectations of $27.55 million. During the same period last year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis.
A number of equities analysts have recently weighed in on the company. Lake Street Capital reiterated a “buy” rating and issued a $14.00 target price (up previously from $12.00) on shares of DSP Group in a report on Friday, April 28th. Dougherty & Co upped their target price on DSP Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, April 28th. Benchmark Co. assumed coverage on DSP Group in a report on Tuesday, April 25th. They issued a “hold” rating on the stock. Wunderlich downgraded DSP Group from a “buy” rating to a “hold” rating and upped their target price for the company from $12.00 to $13.00 in a report on Tuesday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price (up previously from $12.50) on shares of DSP Group in a report on Thursday, April 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $13.86.
In related news, CFO Dror Levy sold 11,962 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $12.46, for a total value of $149,046.52. Following the completion of the sale, the chief financial officer now owns 159,060 shares of the company’s stock, valued at approximately $1,981,887.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.01% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of DSP Group by 1.8% in the first quarter. Arizona State Retirement System now owns 11,315 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 200 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of DSP Group by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,620 shares of the semiconductor company’s stock worth $152,000 after buying an additional 560 shares during the last quarter. Comerica Bank boosted its stake in shares of DSP Group by 2.7% in the first quarter. Comerica Bank now owns 23,905 shares of the semiconductor company’s stock worth $298,000 after buying an additional 637 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of DSP Group by 1.8% in the first quarter. Prudential Financial Inc. now owns 37,197 shares of the semiconductor company’s stock worth $446,000 after buying an additional 650 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of DSP Group by 13.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,381 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,992 shares during the last quarter. 78.44% of the stock is owned by institutional investors and hedge funds.
Shares of DSP Group (NASDAQ DSPG) opened at 12.50 on Friday. The firm has a market capitalization of $277.11 million, a PE ratio of 60.39 and a beta of 0.97. The company has a 50 day moving average of $12.26 and a 200 day moving average of $11.67. DSP Group has a 52-week low of $9.67 and a 52-week high of $14.20.
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.
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.