DSP Group, Inc. (DSPG) Given Consensus Rating of “Buy” by Brokerages
DSP Group, Inc. (NASDAQ:DSPG) has received a consensus rating of “Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.20.
Several equities research analysts have issued reports on DSPG shares. Needham & Company LLC boosted their price target on shares of DSP Group from $12.50 to $15.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. BidaskClub raised shares of DSP Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of DSP Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.
In other news, CFO Dror Levy sold 5,937 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $12.18, for a total value of $72,312.66. Following the sale, the chief financial officer now owns 169,060 shares of the company’s stock, valued at approximately $2,059,150.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.01% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in DSP Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,864,252 shares of the semiconductor company’s stock worth $21,625,000 after buying an additional 9,003 shares in the last quarter. Senvest Management LLC lifted its position in DSP Group by 17.9% during the 2nd quarter. Senvest Management LLC now owns 1,831,092 shares of the semiconductor company’s stock worth $21,241,000 after buying an additional 278,041 shares in the last quarter. Raging Capital Management LLC lifted its position in DSP Group by 25.0% during the 1st quarter. Raging Capital Management LLC now owns 1,693,987 shares of the semiconductor company’s stock worth $20,328,000 after buying an additional 339,286 shares in the last quarter. Vanguard Group Inc. lifted its position in DSP Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,162,694 shares of the semiconductor company’s stock worth $13,487,000 after buying an additional 21,267 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in DSP Group by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 840,994 shares of the semiconductor company’s stock worth $9,756,000 after buying an additional 4,157 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
DSP Group (NASDAQ:DSPG) traded down 0.41% on Wednesday, hitting $12.05. 42,855 shares of the stock were exchanged. The company’s 50 day moving average is $11.95 and its 200 day moving average is $11.89. DSP Group has a 1-year low of $9.80 and a 1-year high of $14.20. The stock has a market cap of $268.10 million, a PE ratio of 92.69 and a beta of 0.90.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $31.30 million for the quarter, compared to analyst estimates of $30.93 million. DSP Group had a net margin of 2.40% and a return on equity of 3.47%. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, equities research analysts expect that DSP Group will post $0.20 earnings per share for the current year.
DSP Group announced that its board has authorized a stock buyback program on Monday, August 14th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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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