DSP Group Inc. (DSPG) Reaches New 12-Month High at $11.10
Shares of DSP Group Inc. (NASDAQ:DSPG) hit a new 52-week high on Wednesday . The company traded as high as $11.10 and last traded at $11.05, with a volume of 45,898 shares. The stock had previously closed at $10.83.
DSPG has been the topic of a number of research reports. TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Needham & Company LLC reiterated 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. 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. Finally, Canaccord Genuity initiated coverage on DSP Group in a research report on Tuesday, August 9th. They set a “buy” rating and a $14.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $11.88.
The firm’s market cap is $241.49 million. The company’s 50 day moving average is $10.57 and its 200-day moving average is $9.60.
DSP Group (NASDAQ:DSPG) last released its earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. During the same period last year, the business earned $0.10 earnings per share. The firm had revenue of $36.20 million for the quarter, compared to analyst estimates of $36 million. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that DSP Group Inc. will post $0.31 earnings per share for the current year.
An institutional investor recently raised its position in DSP Group stock. Morgan Stanley boosted its position in 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 fund owned 122,813 shares of the company’s stock after buying an additional 6,259 shares during the period. Morgan Stanley owned 0.57% of DSP Group worth $1,159,000 as of its most recent SEC filing.
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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