Shares of DSP Group Inc. (NASDAQ:DSPG) hit a new 52-week high during mid-day trading 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.

A number of brokerages have recently issued reports on DSPG. Needham & Company LLC raised their price target 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. Zacks Investment Research downgraded shares of DSP Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity began coverage on shares of DSP Group in a report on Tuesday, August 9th. They set a “buy” rating and a $14.00 price target for the company. Finally, TheStreet downgraded shares of DSP Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. DSP Group currently has a consensus rating of “Buy” and an average target price of $11.88.

The firm’s 50 day moving average is $10.62 and its 200-day moving average is $9.62. The company’s market capitalization is $244.56 million.

DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Monday, August 1st. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Analysts expect 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 raised its stake in shares of DSP Group Inc. (NASDAQ:DSPG) by 5.4% during the fourth quarter, according to its most recent 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 approximately 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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