BidaskClub lowered shares of DSP Group (NASDAQ:DSPG) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of DSP Group from a sell rating to a hold rating in a report on Tuesday. TheStreet cut shares of DSP Group from a b- rating to a c+ rating in a report on Wednesday, November 8th. Finally, Canaccord Genuity restated a buy rating and issued a $16.00 target price on shares of DSP Group in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $14.60.
DSP Group (DSPG) traded down $0.60 during trading hours on Wednesday, hitting $12.65. 78,500 shares of the stock were exchanged, compared to its average volume of 143,133. DSP Group has a 1 year low of $9.80 and a 1 year high of $14.20. The stock has a market capitalization of $282.39, a PE ratio of -180.71, a price-to-earnings-growth ratio of 3.15 and a beta of 0.86.
DSP Group (NASDAQ:DSPG) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. DSP Group had a negative net margin of 1.21% and a positive return on equity of 2.93%. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $34.00 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. equities research analysts expect that DSP Group will post -0.05 earnings per share for the current fiscal year.
In other news, CFO Dror Levy sold 4,060 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $12.85, for a total transaction of $52,171.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ofer Elyakim sold 26,261 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $12.81, for a total transaction of $336,403.41. Following the sale, the chief executive officer now owns 573,252 shares in the company, valued at $7,343,358.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,321 shares of company stock worth $737,774 in the last quarter. Corporate insiders own 5.18% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC bought a new stake in shares of DSP Group during the 2nd quarter valued at $117,000. Arizona State Retirement System increased its holdings in DSP Group by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 11,515 shares of the semiconductor company’s stock valued at $134,000 after acquiring an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in DSP Group by 70.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,337 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 4,672 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in DSP Group by 20.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 13,530 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 2,280 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in DSP Group by 16.1% in the 2nd quarter. Voya Investment Management LLC now owns 15,013 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 2,082 shares during the last quarter. Hedge funds and other 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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