DSP Group Inc. (DSPG) to Post Q1 2017 Earnings of ($0.03) Per Share, Lake Street Capital Forecasts
DSP Group Inc. (NASDAQ:DSPG) – Equities researchers at Lake Street Capital dropped their Q1 2017 earnings per share (EPS) estimates for shares of DSP Group in a report released on Wednesday. Lake Street Capital analyst J. Schmidt now expects that the brokerage will post earnings per share of ($0.03) for the quarter, down from their prior forecast of $0.02.
DSPG has been the topic of several other reports. Roth Capital started coverage on DSP Group in a research report on Wednesday, August 31st. They set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC raised their price target on DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research lowered DSP Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Canaccord Genuity started coverage on DSP Group in a research report on Tuesday, August 9th. They set a “buy” rating and a $14.00 price target on the stock. Finally, Wunderlich raised their price target on DSP Group from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $12.58.
DSP Group (NASDAQ:DSPG) opened at 10.48 on Friday. DSP Group has a 12 month low of $7.89 and a 12 month high of $12.19. The firm’s market capitalization is $229.45 million. The stock’s 50 day moving average price is $11.52 and its 200-day moving average price is $10.44.
DSP Group (NASDAQ:DSPG) last issued its earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $36.20 million for the quarter, compared to analyst estimates of $36 million. During the same period in the prior year, the firm earned $0.10 earnings per share. DSP Group’s revenue for the quarter was down 2.9% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DSPG. Thrivent Financial for Lutherans purchased a new position in DSP Group during the second quarter worth approximately $112,000. Arizona State Retirement System boosted its position 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. Emerald Acquisition Ltd. purchased a new position in DSP Group during the second quarter worth approximately $212,000. Alliancebernstein L.P. boosted its position in 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 last quarter. Finally, Teachers Advisors Inc. boosted its position in 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 last quarter. Institutional investors own 76.53% of the company’s stock.
In other news, CFO Dror Levy sold 11,937 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 149,060 shares in the company, valued at approximately $1,746,983.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ofer Elyakim sold 45,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 442,302 shares of the company’s stock, valued at approximately $5,298,777.96. The disclosure for this sale can be found here. 6.01% of the stock is owned by insiders.
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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