DSP Group Inc. (DSPG) Sees Unusually-High Trading Volume
DSP Group Inc. (NASDAQ:DSPG) shares saw unusually-high trading volume on Friday . Approximately 78,063 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 74,133 shares.The stock last traded at $11.27 and had previously closed at $11.17.
DSPG has been the topic of a number of analyst reports. TheStreet cut shares of DSP Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. 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 report 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 on the stock in a report on Monday, May 2nd. Finally, Canaccord Genuity initiated coverage on shares of DSP Group in a report on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. DSP Group presently has a consensus rating of “Buy” and a consensus target price of $11.88.
The company’s market capitalization is $246.31 million. The stock’s 50-day moving average price is $10.64 and its 200 day moving average price is $9.63.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings data 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 business posted $0.10 EPS. The company earned $36.20 million during the quarter, compared to analyst estimates of $36 million. The company’s revenue was down 2.9% on a year-over-year basis. Equities research 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 increased its stake 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 firm 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 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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