DSP Group Inc. (DSPG) Sees Strong Trading Volume
Shares of DSP Group Inc. (NASDAQ:DSPG) saw strong trading volume on Friday . 247,752 shares were traded during mid-day trading, an increase of 320% from the previous session’s volume of 59,054 shares.The stock last traded at $10.87 and had previously closed at $10.70.
A number of analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of DSP Group in a research report on Saturday, April 30th. Zacks Investment Research upgraded 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. TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Finally, Canaccord Genuity assumed coverage on DSP Group in a research report on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. DSP Group currently has a consensus rating of “Buy” and a consensus price target of $11.88.
The company has a 50-day moving average of $10.52 and a 200-day moving average of $9.58. The company’s market capitalization is $235.36 million.
DSP Group (NASDAQ:DSPG) last released its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. During the same quarter in the previous year, the company posted $0.10 EPS. The company had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36 million. The business’s revenue was down 2.9% on a year-over-year basis. Analysts forecast 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 13F filing with the Securities and Exchange Commission. The firm owned 122,813 shares of the company’s stock after buying an additional 6,259 shares during the period. Morgan Stanley owned approximately 0.57% of DSP Group worth $1,159,000 at the end of the most recent reporting period.
DSP Group, Inc is a provider of wireless chipset solutions for converged communications. The Company delivers semiconductor system solutions with software and hardware reference designs and enables original equipment manufacturers (OEMs), original design manufacturers (ODMs), consumer electronics (CE) manufacturers and service providers to develop products.
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