Shares of DSP Group, Inc. (NASDAQ:DSPG) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $14.20.
A number of equities analysts have recently commented on the stock. BidaskClub upgraded shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Needham & Company LLC raised their price objective on shares of DSP Group from $12.50 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th.
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In related news, CFO Dror Levy sold 5,937 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $12.18, for a total value of $72,312.66. Following the sale, the chief financial officer now directly owns 169,060 shares of the company’s stock, valued at $2,059,150.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.01% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank raised its stake in DSP Group by 2.7% in the first quarter. Comerica Bank now owns 23,905 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 637 shares in the last quarter. Prudential Financial Inc. raised its stake in DSP Group by 1.8% in the first quarter. Prudential Financial Inc. now owns 37,197 shares of the semiconductor company’s stock valued at $446,000 after purchasing an additional 650 shares in the last quarter. Ameriprise Financial Inc. raised its stake in DSP Group by 4.7% in the first quarter. Ameriprise Financial Inc. now owns 113,579 shares of the semiconductor company’s stock valued at $1,363,000 after purchasing an additional 5,050 shares in the last quarter. Geode Capital Management LLC raised its stake in DSP Group by 2.5% in the first quarter. Geode Capital Management LLC now owns 198,569 shares of the semiconductor company’s stock valued at $2,382,000 after purchasing an additional 4,923 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in DSP Group by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,141,427 shares of the semiconductor company’s stock valued at $13,697,000 after purchasing an additional 55,238 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of DSP Group (NASDAQ DSPG) remained flat at $13.80 during mid-day trading on Friday. The stock had a trading volume of 26,091 shares. The stock has a market cap of $307.05 million, a PE ratio of 98.57 and a beta of 0.92. The company’s 50 day moving average is $12.35 and its 200-day moving average is $12.14. DSP Group has a 52 week low of $9.80 and a 52 week high of $14.20.
DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. DSP Group had a net margin of 2.40% and a return on equity of 3.47%. The company had revenue of $31.30 million during the quarter, compared to analyst estimates of $30.93 million. During the same period last year, the business earned $0.11 earnings per share. DSP Group’s revenue was down 13.4% compared to the same quarter last year. On average, analysts forecast that DSP Group will post $0.20 EPS for the current year.
DSP Group declared that its board has approved a share repurchase plan on Monday, August 14th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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