DSP Group Inc. (DSPG) Shares Gap Up to $10.58
DSP Group Inc. (NASDAQ:DSPG)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $10.54, but opened at $10.58. DSP Group shares last traded at $10.74, with a volume of 68,113 shares changing hands.
Several research firms have recently weighed in on DSPG. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective (up previously from $10.00) on shares of DSP Group in a research report on Saturday, April 30th. Canaccord Genuity began coverage on shares of DSP Group in a research report on Tuesday. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of DSP Group from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Monday, May 2nd. Finally, TheStreet upgraded shares of DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. DSP Group currently has a consensus rating of “Buy” and a consensus price target of $11.17.
The company has a 50-day moving average of $10.46 and a 200 day moving average of $9.55. The stock’s market capitalization is $234.13 million.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36 million. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. On average, equities analysts predict that DSP Group Inc. will post $0.32 EPS for the current year.
A hedge fund recently raised its stake in DSP Group stock. Morgan Stanley raised its position in shares of DSP Group Inc. (NASDAQ:DSPG) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,813 shares of the company’s stock after buying an additional 6,259 shares during the period. Morgan Stanley owned about 0.57% of DSP Group worth $1,159,000 as of its most recent SEC filing.
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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