DSP Group Inc. (NASDAQ:DSPG) Receives $12.90 Average PT from Analysts
DSP Group Inc. (NASDAQ:DSPG) has earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the stock. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.90.
A number of research analysts have recently issued reports on DSPG shares. Needham & Company LLC upped their price target on DSP Group from $11.00 to $12.50 and gave the company a “buy” rating in a report on Monday, August 1st. TheStreet raised DSP Group from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Canaccord Genuity started coverage on DSP Group in a report on Tuesday, August 9th. They set a “buy” rating and a $14.00 price target on the stock. Zacks Investment Research downgraded DSP Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Roth Capital started coverage on DSP Group in a report on Wednesday, August 31st. They set a “buy” rating and a $14.00 price target on the stock.
DSP Group (NASDAQ:DSPG) opened at 11.36 on Thursday. The stock’s market cap is $248.72 million. DSP Group has a 12-month low of $7.89 and a 12-month high of $12.19. The firm’s 50-day moving average price is $11.71 and its 200-day moving average price is $10.39.
DSP Group (NASDAQ:DSPG) last released its earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. DSP Group had a negative return on equity of 0.31% and a negative net margin of 1.34%. The business had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36 million. During the same period in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that DSP Group will post $0.30 EPS for the current fiscal year.
In other DSP Group news, CFO Dror Levy sold 11,937 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $11.72, for a total value of $139,901.64. Following the transaction, the chief financial officer now owns 149,060 shares of the company’s stock, valued at $1,746,983.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ofer Elyakim sold 45,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 442,302 shares in the company, valued at approximately $5,298,777.96. The disclosure for this sale can be found here. 6.01% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in shares of 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 last quarter. Zacks Investment Management bought 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 last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of DSP Group during the second quarter worth approximately $112,000. 76.53% of the stock is currently owned by institutional investors.
About DSP Group
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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