DSP Group, Inc. (NASDAQ:DSPG) posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04, Bloomberg Earnings reports. The firm had revenue of $31.30 million for the quarter, compared to the consensus estimate of $30.93 million. DSP Group had a net margin of 2.40% and a return on equity of 3.47%. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share.
Shares of DSP Group (NASDAQ:DSPG) remained flat at $11.75 during trading on Tuesday. The stock had a trading volume of 29,001 shares. 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 $11.99 and a 200 day moving average price of $11.64. The stock has a market capitalization of $260.62 million, a PE ratio of 90.38 and a beta of 0.88.
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Several equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Needham & Company LLC raised their price target on shares of DSP Group from $12.50 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Lake Street Capital reissued a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of DSP Group in a research note on Friday, April 28th. Finally, Dougherty & Co raised their price target on shares of DSP Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.86.
In other DSP Group 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 transaction, the chief financial officer now directly owns 169,060 shares in the company, valued at approximately $2,059,150.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.01% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DSPG. Prudential Financial Inc. raised its position in shares of DSP Group by 2.0% in the second quarter. Prudential Financial Inc. now owns 37,947 shares of the semiconductor company’s stock valued at $440,000 after buying an additional 750 shares during the last quarter. Legal & General Group Plc raised its position in shares of DSP Group by 12.9% in the second quarter. Legal & General Group Plc now owns 42,142 shares of the semiconductor company’s stock valued at $488,000 after buying an additional 4,826 shares during the last quarter. Arizona State Retirement System raised its position in shares of DSP Group by 1.8% in the second quarter. Arizona State Retirement System now owns 11,515 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund raised its position in shares of DSP Group by 3.4% in the second quarter. Texas Permanent School Fund now owns 16,186 shares of the semiconductor company’s stock valued at $188,000 after buying an additional 532 shares during the last quarter. Finally, Hartford Investment Management Co. bought a new position in shares of DSP Group during the second quarter valued at $116,000. Institutional investors and hedge funds own 75.73% 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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