Analysts Set DSP Group Inc. (DSPG) PT at $12.75
DSP Group Inc. (NASDAQ:DSPG) has been assigned a consensus rating of “Buy” from the seven analysts that are covering the stock. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $12.75.
Several equities analysts recently commented on the stock. Roth Capital assumed coverage on shares of DSP Group in a research note on Wednesday, August 31st. They issued a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC upped their price target on shares of DSP Group from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Monday, August 1st. TheStreet downgraded shares of DSP Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Zacks Investment Research downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Finally, Canaccord Genuity assumed coverage on shares of DSP Group in a research note on Tuesday, August 9th. They issued a “buy” rating and a $14.00 price target on the stock.
Shares of DSP Group (NASDAQ:DSPG) opened at 11.70 on Thursday. DSP Group has a 12 month low of $7.89 and a 12 month high of $12.19. The firm has a market cap of $256.73 million, a PE ratio of 78.00 and a beta of 1.01. The stock’s 50 day moving average is $10.98 and its 200 day moving average is $10.67.
DSP Group (NASDAQ:DSPG) last released its quarterly earnings results on Monday, October 31st. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. DSP Group had a net margin of 2.49% and a return on equity of 1.55%. The business had revenue of $38.80 million for the quarter, compared to the consensus estimate of $38.49 million. During the same period in the prior year, the company posted $0.07 earnings per share. DSP Group’s revenue was up 10.2% compared to the same quarter last year. Analysts forecast that DSP Group will post $0.32 EPS for the current fiscal year.
In related news, 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 in the company, valued at approximately $5,298,777.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Dror Levy sold 11,937 shares of the firm’s stock in a transaction that occurred on 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 owns 149,060 shares of the company’s stock, valued at approximately $1,746,983.20. The disclosure for this sale can be found here. Corporate insiders own 6.01% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kennedy Capital Management Inc. increased its stake in DSP Group by 75.3% in the first quarter. Kennedy Capital Management Inc. now owns 194,808 shares of the company’s stock worth $1,777,000 after buying an additional 83,701 shares in the last quarter. Principal Financial Group Inc. increased its stake in DSP Group by 3.1% in the second quarter. Principal Financial Group Inc. now owns 152,832 shares of the company’s stock worth $1,622,000 after buying an additional 4,616 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in DSP Group during the second quarter worth $212,000. Ameriprise Financial Inc. increased its stake in DSP Group by 4.1% in the second quarter. Ameriprise Financial Inc. now owns 104,624 shares of the company’s stock worth $1,110,000 after buying an additional 4,099 shares in the last quarter. Finally, Harber Asset Management LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 76.62% of the company’s stock.
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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