DSP Group, Inc. (DSPG) Given Average Rating of “Buy” by Brokerages
Shares of DSP Group, Inc. (NASDAQ:DSPG) have received a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.60.
A number of equities research analysts have weighed in on DSPG shares. Zacks Investment Research lowered DSP Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub raised DSP Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $16.00 price target on shares of DSP Group in a research report on Thursday.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. DSP Group had a return on equity of 3.47% and a net margin of 2.40%. The company had revenue of $34.30 million for the quarter, compared to analyst estimates of $34.00 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year.
DSP Group announced that its board has initiated a share buyback plan on Monday, August 14th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of DSPG. Senvest Management LLC lifted its position in shares of DSP Group by 17.9% during the 2nd quarter. Senvest Management LLC now owns 1,831,092 shares of the semiconductor company’s stock valued at $21,241,000 after acquiring an additional 278,041 shares during the period. Vanguard Group Inc. lifted its position in shares of DSP Group by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 1,141,427 shares of the semiconductor company’s stock valued at $13,697,000 after acquiring an additional 55,238 shares during the period. State Street Corp lifted its position in shares of DSP Group by 6.1% during the 2nd quarter. State Street Corp now owns 558,027 shares of the semiconductor company’s stock valued at $6,472,000 after acquiring an additional 31,863 shares during the period. Ameriprise Financial Inc. lifted its position in shares of DSP Group by 21.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 137,761 shares of the semiconductor company’s stock valued at $1,598,000 after acquiring an additional 24,182 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of DSP Group by 128.9% during the 1st quarter. Bank of America Corp DE now owns 40,582 shares of the semiconductor company’s stock valued at $487,000 after acquiring an additional 22,856 shares during the period. Institutional investors own 74.27% of the company’s stock.
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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