Arizona State Retirement System increased its stake in DSP Group, Inc. (NASDAQ:DSPG) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,515 shares of the semiconductor company’s stock after buying an additional 200 shares during the period. Arizona State Retirement System owned 0.05% of DSP Group worth $134,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DSPG. Hartford Investment Management Co. bought a new position in DSP Group in the second quarter worth about $116,000. Texas Permanent School Fund raised its stake in DSP Group by 3.4% in the second quarter. Texas Permanent School Fund now owns 16,186 shares of the semiconductor company’s stock worth $188,000 after buying an additional 532 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in 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. State of Tennessee Treasury Department raised its stake in 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. Finally, Comerica Bank raised its stake in DSP Group by 2.7% in the first quarter. Comerica Bank now owns 23,905 shares of the semiconductor company’s stock worth $298,000 after buying an additional 637 shares in the last quarter. 74.28% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on DSPG shares. BidaskClub downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a research note 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. Finally, Needham & Company LLC increased their price target on shares of DSP Group from $12.50 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $13.83.

In related news, CFO Dror Levy sold 5,937 shares of DSP Group stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $12.18, for a total transaction of $72,312.66. Following the completion of the sale, the chief financial officer now owns 169,060 shares in the company, valued at approximately $2,059,150.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.01% of the company’s stock.

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Shares of DSP Group, Inc. (DSPG) opened at 12.05 on Thursday. The stock has a market cap of $268.10 million, a PE ratio of 92.69 and a beta of 0.90. DSP Group, Inc. has a one year low of $9.80 and a one year high of $14.20. The firm has a 50-day moving average of $11.95 and a 200-day moving average of $11.89.

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

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

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.

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

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