DSP Group Inc. (DSPG) Trading Up 3.1%
DSP Group Inc. (NASDAQ:DSPG)’s share price was up 3.1% during trading on Monday . The stock traded as high as $11.60 and last traded at $11.60, with a volume of 53,246 shares changing hands. The stock had previously closed at $11.25.
Several brokerages recently issued reports on DSPG. Zacks Investment Research lowered shares of DSP Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 16th. Needham & Company LLC lifted their price target on shares of DSP Group from $11.00 to $12.50 and gave the company a “buy” rating in a report on Monday, August 1st. TheStreet lowered shares of DSP Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $11.88.
The company’s market cap is $258.57 million. The stock’s 50 day moving average is $10.64 and its 200 day moving average is $9.63.
DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Monday, August 1st. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The business had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36 million. DSP Group’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, equities research analysts anticipate 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 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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