Vanguard Group Inc. increased its position in shares of DSP Group, Inc. (NASDAQ:DSPG) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,141,427 shares of the semiconductor company’s stock after buying an additional 55,238 shares during the period. Vanguard Group Inc. owned about 5.16% of DSP Group worth $13,697,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of DSPG. Nationwide Fund Advisors increased its position 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 worth $306,000 after buying an additional 12,266 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of DSP Group by 62.4% in the first quarter. Russell Investments Group Ltd. now owns 36,215 shares of the semiconductor company’s stock worth $435,000 after buying an additional 13,915 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of DSP Group by 29.0% in the first quarter. Essex Investment Management Co. LLC now owns 101,343 shares of the semiconductor company’s stock worth $1,216,000 after buying an additional 22,757 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of DSP Group by 6.3% in the first quarter. Wells Fargo & Company MN now owns 836,837 shares of the semiconductor company’s stock worth $10,042,000 after buying an additional 49,647 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of DSP Group by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 343,167 shares of the semiconductor company’s stock worth $4,118,000 after buying an additional 20,639 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of DSP Group, Inc. (NASDAQ DSPG) traded up 0.84% during mid-day trading on Tuesday, hitting $12.00. 8,319 shares of the stock were exchanged. The stock’s 50 day moving average is $12.06 and its 200 day moving average is $11.76. The firm has a market cap of $266.99 million, a P/E ratio of 92.31 and a beta of 0.88. DSP Group, Inc. has a 12 month low of $9.80 and a 12 month high of $14.20.

DSP Group (NASDAQ:DSPG) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $31.30 million for the quarter, compared to analyst estimates of $30.93 million. During the same quarter in the prior year, the company earned $0.11 EPS. DSP Group’s revenue was down 13.4% on a year-over-year basis. Analysts expect that DSP Group, Inc. will post $0.20 EPS for the current fiscal year.

DSP Group announced that its Board of Directors has authorized a stock buyback program on Monday, August 14th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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A number of research analysts have issued reports on DSPG shares. Needham & Company LLC boosted their price objective on shares of DSP Group from $12.50 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. BidaskClub raised shares of DSP Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research cut shares of DSP Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. DSP Group presently has an average rating of “Buy” and a consensus target price of $13.86.

In other DSP Group news, CFO Dror Levy sold 5,937 shares of the company’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 sale, the chief financial officer now owns 169,060 shares in the company, valued at approximately $2,059,150.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.01% of the stock is owned by corporate insiders.

DSP Group Company Profile

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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Institutional Ownership by Quarter for DSP Group (NASDAQ:DSPG)

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