DSP Group Inc. (DSPG) Reaches New 12-Month High at $10.91
DSP Group Inc. (NASDAQ:DSPG) reached a new 52-week high on Monday . The stock traded as high as $10.91 and last traded at $10.73, with a volume of 32,952 shares trading hands. The stock had previously closed at $10.57.
Several equities research analysts recently weighed in on DSPG shares. TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a research report on Friday, April 1st. Needham & Company LLC restated a “buy” rating and set a $11.00 price target (up from $10.00) on shares of DSP Group in a research report on Saturday, April 30th. Finally, Zacks Investment Research upgraded DSP Group from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Monday, May 2nd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. DSP Group currently has a consensus rating of “Buy” and an average target price of $11.00.
The stock’s 50-day moving average price is $10.26 and its 200 day moving average price is $9.35. The company’s market capitalization is $233.03 million.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $27.66 million for the quarter, compared to analysts’ expectations of $27.02 million. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. On average, equities analysts forecast that DSP Group Inc. will post $0.33 EPS for the current fiscal year.
In other news, CFO Dror Levy sold 9,430 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $9.45, for a total value of $89,113.50. Following the sale, the chief financial officer now directly owns 164,061 shares in the company, valued at $1,550,376.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ofer Elyakim sold 2,984 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $9.52, for a total value of $28,407.68. Following the completion of the sale, the chief executive officer now owns 364,324 shares in the company, valued at $3,468,364.48. The disclosure for this sale can be found here.
Several large investors have modified their holdings of DSPG. Principal Financial Group Inc. increased its stake in shares of DSP Group by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 142,585 shares of the company’s stock valued at $1,346,000 after buying an additional 3,136 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of DSP Group by 5.3% in the fourth quarter. Wells Fargo & Company MN now owns 927,454 shares of the company’s stock valued at $8,755,000 after buying an additional 46,904 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of DSP Group by 5.4% in the fourth quarter. Morgan Stanley now owns 122,813 shares of the company’s stock valued at $1,159,000 after buying an additional 6,259 shares during the last quarter.
DSP Group, Inc is a global provider of wireless chipset solutions for converged communications. The Company enables original equipment manufacturers (OEMs), original design manufacturers (ODMs), consumer electronics (CE) manufacturers and service providers to develop products. It provides a portfolio of wireless chipsets integrating Digital Enhanced Cordless Telecommunications (DECT); Cordless Advanced Technology – Internet Quality (CAT-iq), Ultra Low Energy (ULE), Wi-Fi, video, Voice over Internet Protocol (VoIP), Public Switched Telephone Network (PSTN), HDClear (previously BoneTone) noise suppression and voice quality enhancement technologies.
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