DSP Group Inc. (DSPG) Sees Strong Trading Volume
DSP Group Inc. (NASDAQ:DSPG) saw an uptick in trading volume on Friday . 78,063 shares were traded 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.
Several research firms recently commented on DSPG. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of DSP Group in a research report on Saturday, April 30th. Zacks Investment Research lowered shares of DSP Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 16th. TheStreet upgraded shares of DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Finally, Canaccord Genuity began coverage on shares of DSP Group in a research report on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $11.88.
The stock’s 50-day moving average price is $10.64 and its 200-day moving average price is $9.63. The stock’s market cap is $246.31 million.
DSP Group (NASDAQ:DSPG) last posted its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company earned $36.20 million during the quarter, compared to the consensus estimate of $36 million. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities research analysts predict that DSP Group Inc. will post $0.31 earnings per share for the current year.
A hedge fund recently raised its stake in DSP Group stock. Morgan Stanley increased its position in shares of DSP Group Inc. (NASDAQ:DSPG) by 5.4% during the fourth quarter, according to its most recent 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 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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