DSP Group Inc. (DSPG) Shares Gap Up to $10.58
DSP Group Inc. (NASDAQ:DSPG) gapped up prior to trading 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.
A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of DSP Group in a research note on Saturday, April 30th. Zacks Investment Research raised 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 note on Monday, May 2nd. Canaccord Genuity assumed coverage on shares of DSP Group in a research note on Tuesday. They issued a “buy” rating and a $14.00 price objective for the company. Finally, TheStreet raised shares of DSP Group from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $11.88.
The firm’s 50 day moving average is $10.48 and its 200 day moving average is $9.56. The stock’s market capitalization is $233.26 million.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36 million. During the same period in the prior year, the firm earned $0.10 EPS. DSP Group’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts expect that DSP Group Inc. will post $0.31 earnings per share for the current fiscal year.
An institutional investor recently raised its position in DSP Group stock. Morgan Stanley boosted its stake in shares of DSP Group Inc. (NASDAQ:DSPG) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.