DSP Group Inc. (DSPG) to Post FY2016 Earnings of $0.01 Per Share, Dougherty & Co Forecasts
DSP Group Inc. (NASDAQ:DSPG) – Stock analysts at Dougherty & Co reduced their FY2016 EPS estimates for shares of DSP Group in a research note issued to investors on Tuesday. Dougherty & Co analyst C. Anderson now forecasts that the firm will post earnings of $0.01 per share for the year, down from their previous forecast of $0.09. Dougherty & Co also issued estimates for DSP Group’s Q1 2017 earnings at ($0.03) EPS and FY2017 earnings at $0.07 EPS.
DSPG has been the subject of a number of other research reports. Roth Capital assumed coverage on DSP Group in a report on Wednesday, August 31st. They set a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC boosted their price target on DSP Group from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research cut DSP Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Canaccord Genuity assumed coverage on DSP Group in a research note on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Wunderlich boosted their price target on DSP Group from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. DSP Group has an average rating of “Buy” and a consensus target price of $12.58.
Shares of DSP Group (NASDAQ:DSPG) traded down 0.86% on Friday, reaching $11.48. The company’s stock had a trading volume of 19,065 shares. The firm has a 50 day moving average of $11.71 and a 200 day moving average of $10.37. The company’s market cap is $251.34 million. DSP Group has a 52-week low of $7.89 and a 52-week high of $12.19.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. The firm had revenue of $36.20 million for the quarter, compared to analyst estimates of $36 million. DSP Group had a negative return on equity of 0.31% and a negative net margin of 1.34%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS.
A number of hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in DSP Group by 2.7% in the second quarter. Arizona State Retirement System now owns 11,315 shares of the company’s stock worth $120,000 after buying an additional 300 shares during the last quarter. Harber Asset Management LLC boosted its stake in shares of DSP Group by 8.9% in the second quarter. Harber Asset Management LLC now owns 147,637 shares of the company’s stock worth $1,566,000 after buying an additional 12,066 shares during the period. Zacks Investment Management purchased a new stake in shares of DSP Group during the second quarter worth approximately $619,000. State Street Corp boosted its stake in shares of DSP Group by 2.3% in the second quarter. State Street Corp now owns 406,928 shares of the company’s stock worth $4,317,000 after buying an additional 9,132 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of DSP Group during the second quarter worth approximately $112,000. Institutional investors and hedge funds own 76.53% of the company’s stock.
In related news, CFO Dror Levy sold 11,937 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $11.72, for a total value of $139,901.64. Following the completion of the sale, the chief financial officer now directly owns 149,060 shares in the company, valued at $1,746,983.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ofer Elyakim sold 45,000 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $11.98, for a total value of $539,100.00. Following the completion of the sale, the chief executive officer now owns 442,302 shares of the company’s stock, valued at $5,298,777.96. The disclosure for this sale can be found here. 6.01% of the stock is owned by corporate insiders.
DSP Group Company Profile
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.
Receive News & Stock Ratings for DSP Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DSP Group Inc. and related stocks with our FREE daily email newsletter.