DSP Group, Inc. (DSPG) Cut to Sell at BidaskClub
BidaskClub lowered shares of DSP Group, Inc. (NASDAQ:DSPG) from a hold rating to a sell rating in a research report report published on Saturday.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of DSP Group from a hold rating to a sell rating in a research report on Tuesday, August 1st. Benchmark Co. began coverage on shares of DSP Group in a research report on Tuesday, April 25th. They set a hold rating for the company. Needham & Company LLC upped their price objective on shares of DSP Group from $12.50 to $15.00 and gave the stock a buy rating in a research report on Tuesday, July 4th. Dougherty & Co boosted their target price on DSP Group from $13.00 to $15.00 and gave the stock a buy rating in a research note on Friday, April 28th. Finally, Wunderlich downgraded DSP Group from a buy rating to a hold rating and boosted their target price for the stock from $12.00 to $13.00 in a research note on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $13.86.
Shares of DSP Group (NASDAQ DSPG) opened at 11.75 on Friday. DSP Group has a 12 month low of $9.80 and a 12 month high of $14.20. The firm has a market cap of $260.62 million, a PE ratio of 90.38 and a beta of 0.88. The company’s 50 day moving average is $11.99 and its 200-day moving average is $11.64.
DSP Group (NASDAQ:DSPG) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. DSP Group had a net margin of 2.40% and a return on equity of 3.47%. The business had revenue of $31.30 million during the quarter, compared to analysts’ expectations of $30.93 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. DSP Group’s revenue was down 13.4% compared to the same quarter last year. Equities research analysts predict that DSP Group will post $0.20 EPS for the current year.
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In other DSP Group news, CFO Dror Levy sold 5,937 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $12.18, for a total transaction of $72,312.66. Following the completion of the transaction, the chief financial officer now owns 169,060 shares of the company’s stock, valued at $2,059,150.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.01% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of DSP Group during the fourth quarter valued at approximately $290,000. Comerica Bank increased its position in shares of DSP Group by 5.6% in the fourth quarter. Comerica Bank now owns 23,268 shares of the semiconductor company’s stock valued at $273,000 after buying an additional 1,236 shares during the last quarter. State Street Corp increased its position in shares of DSP Group by 14.7% in the fourth quarter. State Street Corp now owns 495,910 shares of the semiconductor company’s stock valued at $6,469,000 after buying an additional 63,699 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of DSP Group by 13.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,381 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,992 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of DSP Group by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,620 shares of the semiconductor company’s stock valued at $152,000 after buying an additional 560 shares during the last quarter. 75.73% of the stock is owned by hedge funds and other institutional investors.
About DSP Group
DSP Group, Inc is a global provider of wireless and audio chipset solutions for converged communications. Delivering semiconductor system solutions with software and hardware reference designs, the Company enables original equipment manufacturers, original design manufacturers, consumer electronics manufacturers and service providers to develop new products.
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