Dimensional Fund Advisors LP Sells 2,900 Shares of DSP Group, Inc. (DSPG)
Dimensional Fund Advisors LP lowered its stake in DSP Group, Inc. (NASDAQ:DSPG) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,855,249 shares of the semiconductor company’s stock after selling 2,900 shares during the period. Dimensional Fund Advisors LP owned 0.08% of DSP Group worth $22,263,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of DSP Group during the fourth quarter valued at $290,000. State Street Corp boosted its stake 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 in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake 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 in the last quarter. Thrivent Financial for Lutherans boosted its stake 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 in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of DSP Group by 92.7% in the first quarter. Nationwide Fund Advisors now owns 25,499 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 12,266 shares in the last quarter. 75.73% of the stock is owned by hedge funds and other institutional investors.
Shares of DSP Group, Inc. (DSPG) opened at 11.75 on Thursday. The stock has a 50 day moving average price of $11.96 and a 200-day moving average price of $11.66. DSP Group, Inc. has a 52 week low of $9.80 and a 52 week high of $14.20. The company has a market capitalization of $260.62 million, a PE ratio of 90.38 and a beta of 0.88.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. DSP Group had a return on equity of 3.47% and a net margin of 2.40%. The company had revenue of $31.30 million during the quarter, compared to the consensus estimate of $30.93 million. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue was down 13.4% compared to the same quarter last year. Equities research analysts expect that DSP Group, Inc. will post $0.20 EPS for the current year.
Several analysts have weighed in on DSPG shares. Wunderlich cut DSP Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $12.00 to $13.00 in a report on Tuesday, April 25th. Benchmark Co. started coverage on DSP Group in a report on Tuesday, April 25th. They set a “hold” rating for the company. Dougherty & Co boosted their price objective on DSP Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Lake Street Capital reissued a “buy” rating and set a $14.00 price objective (up from $12.00) on shares of DSP Group in a report on Friday, April 28th. Finally, Needham & Company LLC boosted their price objective on DSP Group from $12.50 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $13.86.
In other news, CFO Dror Levy sold 5,937 shares of the firm’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 directly owns 169,060 shares in the company, valued at $2,059,150.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.01% of the stock is owned by company insiders.
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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