New York State Teachers Retirement System maintained its stake in shares of DSP Group, Inc. (NASDAQ:DSPG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,291 shares of the semiconductor company’s stock at the end of the first quarter. New York State Teachers Retirement System owned about 0.28% of DSP Group worth $747,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DSPG. Arizona State Retirement System raised its position in DSP Group by 1.8% in the first quarter. Arizona State Retirement System now owns 11,315 shares of the semiconductor company’s stock worth $136,000 after buying an additional 200 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of DSP Group by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,620 shares of the semiconductor company’s stock worth $152,000 after buying an additional 560 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of DSP Group by 13.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,381 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,992 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of DSP Group by 39.2% in the first quarter. Parametric Portfolio Associates LLC now owns 18,821 shares of the semiconductor company’s stock worth $226,000 after buying an additional 5,297 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of DSP Group by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 19,901 shares of the semiconductor company’s stock worth $239,000 after buying an additional 3,003 shares in the last quarter. 75.76% of the stock is owned by institutional investors and hedge funds.

DSP Group, Inc. (NASDAQ:DSPG) traded down 0.43% on Friday, reaching $11.70. 57,602 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $11.99 and a 200-day moving average of $11.70. DSP Group, Inc. has a one year low of $9.80 and a one year high of $14.20. The stock has a market cap of $260.31 million, a price-to-earnings ratio of 90.00 and a beta of 0.88.

DSP Group (NASDAQ:DSPG) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $31.30 million for the quarter, compared to analyst estimates of $30.93 million. DSP Group had a return on equity of 3.47% and a net margin of 2.40%. DSP Group’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. Equities research analysts forecast that DSP Group, Inc. will post $0.20 EPS for the current fiscal year.

DSP Group announced that its board has initiated a stock repurchase program on Monday, August 14th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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DSPG has been the subject of a number of research reports. Wunderlich lowered shares of DSP Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $12.00 to $13.00 in a research report on Tuesday, April 25th. BidaskClub lowered shares of DSP Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised shares of DSP Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Dougherty & Co increased their target price on shares of DSP Group from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Lake Street Capital reissued a “buy” rating and issued a $14.00 target price (up previously from $12.00) on shares of DSP Group in a research note on Friday, April 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. DSP Group presently has a consensus rating of “Buy” and a consensus price target of $13.86.

In other DSP Group news, CFO Dror Levy sold 5,937 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $12.18, for a total value of $72,312.66. Following the transaction, the chief financial officer now owns 169,060 shares in the company, valued at $2,059,150.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.01% of the company’s stock.

About DSP Group

DSP Group, Inc is a global provider of wireless and audio chipset solutions for converged communications. Delivering semiconductor system solutions with software and hardware reference designs, the Company enables original equipment manufacturers, original design manufacturers, consumer electronics manufacturers and service providers to develop new products.

Institutional Ownership by Quarter for DSP Group (NASDAQ:DSPG)

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