FY2016 EPS Estimates for DSP Group Inc. (DSPG) Cut by Analyst
DSP Group Inc. (NASDAQ:DSPG) – Investment analysts at Lake Street Capital decreased their FY2016 earnings estimates for DSP Group in a research note issued to investors on Wednesday. Lake Street Capital analyst J. Schmidt now expects that the firm will post earnings per share of $0.04 for the year, down from their prior estimate of $0.10. Lake Street Capital also issued estimates for DSP Group’s Q4 2016 earnings at $0.02 EPS, Q2 2017 earnings at $0.03 EPS and FY2017 earnings at $0.16 EPS.
Several other brokerages have also recently issued reports on DSPG. Wunderlich boosted their price objective on shares of DSP Group from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. TheStreet raised shares of DSP Group from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Canaccord Genuity assumed coverage on shares of DSP Group in a research note on Tuesday, August 9th. They set a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research cut shares of DSP Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, Needham & Company LLC upped their price target on shares of DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Monday, August 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. DSP Group presently has a consensus rating of “Buy” and a consensus target price of $12.58.
DSP Group (NASDAQ:DSPG) traded down 1.18% during mid-day trading on Thursday, hitting $10.01. The stock had a trading volume of 38,673 shares. DSP Group has a one year low of $7.89 and a one year high of $12.19. The company has a 50 day moving average price of $11.62 and a 200 day moving average price of $10.43. The stock’s market cap is $219.16 million.
DSP Group (NASDAQ:DSPG) last posted its earnings results on Monday, August 1st. The company reported $0.11 EPS for the quarter, topping the Zacks’ 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 analysts’ expectations of $36 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year.
Several large investors have recently modified their holdings of DSPG. Thrivent Financial for Lutherans bought a new stake in shares of DSP Group during the second quarter worth about $112,000. Arizona State Retirement System raised 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 period. Emerald Acquisition Ltd. bought a new stake in shares of DSP Group during the second quarter worth about $212,000. Alliancebernstein L.P. raised its stake in shares of DSP Group by 4.5% in the second quarter. Alliancebernstein L.P. now owns 25,300 shares of the company’s stock worth $268,000 after buying an additional 1,100 shares during the period. Finally, Teachers Advisors Inc. raised its stake in shares of DSP Group by 6.8% in the second quarter. Teachers Advisors Inc. now owns 33,617 shares of the company’s stock worth $357,000 after buying an additional 2,133 shares during the period. Institutional investors and hedge funds own 76.53% of the company’s stock.
In other DSP Group news, CEO Ofer Elyakim sold 45,000 shares of the company’s 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 of the company’s stock, valued at approximately $5,298,777.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Dror Levy sold 11,937 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $11.72, for a total transaction of $139,901.64. Following the completion of the transaction, the chief financial officer now directly owns 149,060 shares of the company’s stock, valued at $1,746,983.20. The disclosure for this sale can be found here. 6.01% of the stock is currently owned by company 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.
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