DSP Group (NASDAQ:DSPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors, portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. “

DSPG has been the topic of several other reports. TheStreet lowered DSP Group from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 target price on shares of DSP Group in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $14.60.

Shares of DSP Group (NASDAQ:DSPG) traded down $0.25 during trading on Wednesday, reaching $12.77. The company had a trading volume of 56,045 shares, compared to its average volume of 70,951. The stock has a market cap of $290.20, a P/E ratio of 72.22 and a beta of 0.86. DSP Group has a 1 year low of $9.80 and a 1 year high of $14.20.

DSP Group (NASDAQ:DSPG) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $34.30 million during the quarter, compared to the consensus estimate of $34.00 million. DSP Group had a positive return on equity of 2.93% and a negative net margin of 1.21%. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. sell-side analysts predict that DSP Group will post -0.05 earnings per share for the current year.

In other DSP Group news, CEO Ofer Elyakim sold 26,261 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $12.81, for a total value of $336,403.41. Following the completion of the sale, the chief executive officer now owns 573,252 shares in the company, valued at approximately $7,343,358.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yair Seroussi sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $13.10, for a total value of $157,200.00. Following the completion of the sale, the director now owns 26,000 shares of the company’s stock, valued at approximately $340,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,321 shares of company stock worth $545,774. 5.18% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in DSPG. Senvest Management LLC lifted its position in shares of DSP Group by 17.9% in the 2nd quarter. Senvest Management LLC now owns 1,831,092 shares of the semiconductor company’s stock worth $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% in the 1st quarter. Vanguard Group Inc. now owns 1,141,427 shares of the semiconductor company’s stock worth $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% in the 2nd quarter. State Street Corp now owns 558,027 shares of the semiconductor company’s stock worth $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% in the 2nd quarter. Ameriprise Financial Inc. now owns 137,761 shares of the semiconductor company’s stock worth $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% in the 1st quarter. Bank of America Corp DE now owns 40,582 shares of the semiconductor company’s stock worth $487,000 after acquiring an additional 22,856 shares during the period. Institutional investors own 74.80% of the company’s stock.

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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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