DSP Group Inc. (DSPG) Reaches New 12-Month High at $11.99
DSP Group Inc. (NASDAQ:DSPG) hit a new 52-week high during trading on Wednesday . The stock traded as high as $11.99 and last traded at $11.96, with a volume of 31,940 shares trading hands. The stock had previously closed at $11.78.
DSPG has been the subject of several research analyst reports. Canaccord Genuity assumed coverage on shares of DSP Group in a research report on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price target for the company. TheStreet upgraded shares of DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Needham & Company LLC increased their target price on shares of DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, Zacks Investment Research downgraded shares of DSP Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $11.88.
The firm’s market cap is $261.41 million. The company has a 50-day moving average of $10.83 and a 200 day moving average of $9.73.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The business 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. During the same quarter in the prior year, the firm earned $0.10 EPS. Equities research analysts forecast that DSP Group Inc. will post $0.31 earnings per share for the current year.
In other news, CFO Dror Levy sold 11,937 shares of DSP Group stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $11.72, for a total transaction of $139,901.64. Following the completion of the sale, the chief financial officer now owns 149,060 shares in the company, valued at approximately $1,746,983.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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.
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.