DSP Group, Inc. (NASDAQ:DSPG)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a report issued on Thursday, November 2nd. They currently have a $16.00 price objective on the semiconductor company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 27.49% from the company’s previous close.
A number of other research analysts also recently weighed in on DSPG. BidaskClub raised shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.60.
Shares of DSP Group (NASDAQ DSPG) traded down $0.10 during mid-day trading on Thursday, hitting $12.55. 38,000 shares of the stock traded hands, compared to its average volume of 71,701. DSP Group has a 52 week low of $9.80 and a 52 week high of $14.20. The company has a market capitalization of $277.92, a P/E ratio of 70.28 and a beta of 0.87.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $34.30 million during the quarter, compared to the consensus estimate of $34.00 million. DSP Group had a negative net margin of 1.21% and a positive return on equity of 2.93%. The firm’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. equities research analysts predict that DSP Group will post -0.05 EPS for the current year.
DSP Group announced that its Board of Directors has approved a share repurchase plan on Monday, August 14th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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In other DSP Group news, CEO Ofer Elyakim sold 26,261 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $12.81, for a total value of $336,403.41. Following the completion of the sale, the chief executive officer now owns 573,252 shares in the company, valued at $7,343,358.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.18% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in DSP Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,864,252 shares of the semiconductor company’s stock valued at $21,625,000 after acquiring an additional 9,003 shares during the last quarter. Senvest Management LLC lifted its stake in DSP Group by 0.9% in the third quarter. Senvest Management LLC now owns 1,846,744 shares of the semiconductor company’s stock valued at $24,008,000 after acquiring an additional 15,652 shares during the last quarter. Vanguard Group Inc. lifted its stake in DSP Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 1,162,694 shares of the semiconductor company’s stock valued at $13,487,000 after acquiring an additional 21,267 shares during the last quarter. Wells Fargo & Company MN lifted its stake in DSP Group by 2.3% in the third quarter. Wells Fargo & Company MN now owns 860,233 shares of the semiconductor company’s stock valued at $11,183,000 after acquiring an additional 19,239 shares during the last quarter. Finally, State Street Corp lifted its stake in DSP Group by 6.1% in the second quarter. State Street Corp now owns 558,027 shares of the semiconductor company’s stock valued at $6,472,000 after acquiring an additional 31,863 shares during the last quarter. Hedge funds and other institutional investors own 74.24% of the company’s stock.
DSP Group Company Profile
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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