DSP Group (NASDAQ:DSPG) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of DSP Group (NASDAQ:DSPG) from a buy rating to a hold rating in a research report sent to investors on Friday, BidAskClub reports.

Several other analysts also recently weighed in on DSPG. Cowen boosted their price target on DSP Group from $17.00 to $19.00 and gave the company an outperform rating in a research note on Wednesday, November 6th. Needham & Company LLC set a $18.00 price objective on DSP Group and gave the company a buy rating in a report on Wednesday, July 31st. ValuEngine cut DSP Group from a buy rating to a hold rating in a report on Wednesday, September 25th. Finally, Zacks Investment Research cut DSP Group from a buy rating to a hold rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. DSP Group presently has a consensus rating of Buy and a consensus target price of $18.00.

DSPG stock traded down $0.06 on Friday, hitting $14.64. 2,812 shares of the company’s stock were exchanged, compared to its average volume of 190,886. DSP Group has a 12-month low of $10.54 and a 12-month high of $16.30. The firm has a 50 day moving average price of $14.55 and a two-hundred day moving average price of $14.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.11 and a current ratio of 3.47. The stock has a market cap of $341.04 million, a P/E ratio of 63.91, a price-to-earnings-growth ratio of 37.06 and a beta of 0.77.

DSP Group (NASDAQ:DSPG) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $31.04 million for the quarter, compared to the consensus estimate of $31.00 million. DSP Group had a positive return on equity of 4.40% and a negative net margin of 1.24%. Sell-side analysts expect that DSP Group will post 0.03 earnings per share for the current fiscal year.

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In other news, CFO Dror Levy sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $15.42, for a total value of $385,500.00. Following the completion of the sale, the chief financial officer now directly owns 156,000 shares in the company, valued at $2,405,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yair Seroussi sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $15.15, for a total value of $227,250.00. Following the completion of the sale, the director now owns 41,712 shares of the company’s stock, valued at $631,936.80. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of DSP Group by 3.7% in the second quarter. Renaissance Technologies LLC now owns 1,143,494 shares of the semiconductor company’s stock valued at $16,421,000 after purchasing an additional 41,200 shares in the last quarter. Heartland Advisors Inc. grew its position in shares of DSP Group by 2,729.4% in the second quarter. Heartland Advisors Inc. now owns 293,970 shares of the semiconductor company’s stock valued at $4,221,000 after purchasing an additional 283,580 shares in the last quarter. BlackRock Inc. grew its position in shares of DSP Group by 57.3% in the second quarter. BlackRock Inc. now owns 3,154,232 shares of the semiconductor company’s stock valued at $45,296,000 after purchasing an additional 1,148,366 shares in the last quarter. Bank of America Corp DE grew its position in shares of DSP Group by 47.7% in the second quarter. Bank of America Corp DE now owns 45,982 shares of the semiconductor company’s stock valued at $660,000 after purchasing an additional 14,850 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of DSP Group by 17.6% in the third quarter. Rice Hall James & Associates LLC now owns 155,647 shares of the semiconductor company’s stock valued at $2,192,000 after purchasing an additional 23,272 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

About DSP Group

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications. It operates through three segments: Home, Office, and SmartVoice. The company provides a portfolio of wireless chipsets that integrate DECT/CAT-iq, ULE, Wi-Fi, PSTN, HDClear, video, and VoIP technologies.

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