DSP Group, Inc. (DSPG) Sees Strong Trading Volume
Shares of DSP Group, Inc. (NASDAQ:DSPG) saw an uptick in 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.
Several brokerages have commented on DSPG. Needham & Company LLC upped their price objective on shares of DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Monday, August 1st. Canaccord Genuity initiated coverage on shares of DSP Group in a research note on Tuesday. They issued a “buy” rating and a $14.00 price target for the company. TheStreet lowered shares of DSP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Zacks Investment Research upgraded shares of DSP Group from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research note on Monday, May 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $11.88.
The firm’s market capitalization is $233.69 million. The stock has a 50-day moving average of $10.52 and a 200 day moving average of $9.58.
DSP Group (NASDAQ:DSPG) last issued its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. The company had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36 million. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. Equities research 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 increased its position in shares of DSP Group, Inc. (NASDAQ:DSPG) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,813 shares of the company’s stock after buying an additional 6,259 shares during the period. Morgan Stanley owned about 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.
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.