Deswell Industries (NASDAQ:DSWL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Deswell Industries, Inc. (NASDAQ:DSWL)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.39 and traded as high as $3.88. Deswell Industries shares last traded at $3.88, with a volume of 42,794 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Deswell Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Deswell Industries has an average rating of “Hold”.

Deswell Industries Stock Performance

The company has a 50 day moving average of $3.38 and a 200 day moving average of $3.39. The stock has a market capitalization of $61.85 million, a price-to-earnings ratio of 8.08 and a beta of 0.66.

Deswell Industries Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, July 2nd. Deswell Industries’s dividend payout ratio is presently 41.67%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Deswell Industries stock. Royal Palms Capital LLC purchased a new position in shares of Deswell Industries, Inc. (NASDAQ:DSWL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries makes up 1.9% of Royal Palms Capital LLC’s portfolio, making the stock its 24th largest position. Royal Palms Capital LLC owned about 2.89% of Deswell Industries as of its most recent SEC filing.

About Deswell Industries

Deswell Industries, Inc (NASDAQ: DSWL) is a China-based medical device company that designs, develops, manufactures and distributes airway management and respiratory care products. The company’s product portfolio includes laryngeal mask airways, disposable endotracheal tubes, nebulizers, oxygen therapy equipment, humidifiers and related ventilator accessories. Deswell’s devices are used in hospitals, clinics and home-care settings to support anesthesia, emergency medicine and respiratory treatment.

Founded in 2003 and headquartered in Shenzhen, Deswell operates multiple manufacturing facilities that comply with international quality standards, including FDA 510(k) clearances and CE markings for many of its devices.