Zacks Investment Research upgraded shares of DSP Group, Inc. (NASDAQ:DSPG) from a sell rating to a hold rating in a research report report published on Friday morning.
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. “
A number of other brokerages also recently weighed in on DSPG. TheStreet downgraded DSP Group from a b- rating to a c+ rating in a report on Wednesday, November 8th. BidaskClub downgraded DSP Group from a hold rating to a sell rating in a report on Saturday, August 5th. Finally, Canaccord Genuity reissued a buy rating and set a $16.00 price objective on shares of DSP Group in a report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $14.60.
Shares of DSP Group (NASDAQ DSPG) traded down $0.20 during mid-day trading on Friday, hitting $12.55. The company’s stock had a trading volume of 21,100 shares, compared to its average volume of 71,278. The firm has a market cap of $280.15, a P/E ratio of 69.72 and a beta of 0.87. DSP Group has a 52-week low of $9.80 and a 52-week high of $14.20.
DSP Group (NASDAQ:DSPG) last issued its earnings results 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. The firm had revenue of $34.30 million for 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 company’s revenue was down 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. equities analysts expect that DSP Group will post -0.05 earnings per share for the current fiscal year.
DSP Group announced that its board has authorized a stock buyback plan on Monday, August 14th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In other DSP Group news, CEO Ofer Elyakim sold 26,261 shares of DSP Group stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $12.81, for a total transaction of $336,403.41. Following the transaction, the chief executive officer now directly owns 573,252 shares of the company’s stock, valued at approximately $7,343,358.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.18% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. lifted its holdings in DSP Group by 1.8% during the 1st quarter. Prudential Financial Inc. now owns 37,197 shares of the semiconductor company’s stock worth $446,000 after buying an additional 650 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of DSP Group by 21.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 81,491 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 14,300 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of DSP Group by 51.1% in the 2nd quarter. Alliancebernstein L.P. now owns 35,800 shares of the semiconductor company’s stock worth $415,000 after acquiring an additional 12,100 shares in the last quarter. Senvest Management LLC raised 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of DSP Group by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 198,569 shares of the semiconductor company’s stock worth $2,382,000 after acquiring an additional 4,923 shares in the last quarter. 74.24% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for DSP Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DSP Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.