DSP Group, Inc. (NASDAQ:DSPG) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
DSP Group, Inc. (NASDAQ:DSPG) announced its quarterly earnings results on Thursday. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04, Bloomberg Earnings reports. DSP Group had a net margin of 3.52% and a return on equity of 3.41%. The company had revenue of $31.30 million during the quarter, compared to the consensus estimate of $30.93 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year.
DSP Group (NASDAQ:DSPG) traded up 2.02% during midday trading on Thursday, reaching $12.65. 136,270 shares of the company traded hands. The company has a market cap of $280.44 million, a price-to-earnings ratio of 61.11 and a beta of 0.87. DSP Group has a 12-month low of $9.80 and a 12-month high of $14.20. The company has a 50-day moving average price of $11.98 and a 200-day moving average price of $11.64.
DSPG has been the subject of several analyst reports. Wunderlich downgraded shares of DSP Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $12.00 to $13.00 in a report on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target (up previously from $12.50) on shares of DSP Group in a report on Thursday, April 6th. Dougherty & Co boosted their price target on shares of DSP Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, April 28th. Lake Street Capital reissued a “buy” rating and set a $14.00 price target (up previously from $12.00) on shares of DSP Group in a report on Friday, April 28th. Finally, Benchmark Co. initiated coverage on shares of DSP Group in a report on Tuesday, April 25th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $13.86.
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In other DSP Group news, CFO Dror Levy sold 11,962 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $12.46, for a total transaction of $149,046.52. Following the transaction, the chief financial officer now owns 159,060 shares in the company, valued at $1,981,887.60. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.01% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. TFS Capital LLC bought a new position in shares of DSP Group during the first quarter worth about $533,000. Ameriprise Financial Inc. boosted its position in shares of DSP Group by 4.7% in the first quarter. Ameriprise Financial Inc. now owns 113,579 shares of the semiconductor company’s stock worth $1,363,000 after buying an additional 5,050 shares during the period. Comerica Bank boosted its position 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 period. Bank of New York Mellon Corp boosted its position in shares of DSP Group by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 343,167 shares of the semiconductor company’s stock worth $4,118,000 after buying an additional 20,639 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of DSP Group by 6.3% in the first quarter. Wells Fargo & Company MN now owns 836,837 shares of the semiconductor company’s stock worth $10,042,000 after buying an additional 49,647 shares during the period. Hedge funds and other institutional investors own 76.12% of the company’s stock.
DSP Group Company Profile
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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