DSP Group (NASDAQ:DSPG) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02, Briefing.com reports. DSP Group had a positive return on equity of 2.71% and a negative net margin of 2.41%. The company had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $31.13 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was down 11.6% compared to the same quarter last year.
DSP Group (NASDAQ DSPG) opened at $12.45 on Friday. The stock has a market capitalization of $291.32, a PE ratio of 76.76, a PEG ratio of 3.11 and a beta of 0.77. DSP Group has a fifty-two week low of $9.85 and a fifty-two week high of $14.20.
In other news, CEO Ofer Elyakim sold 26,261 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $12.81, for a total value of $336,403.41. Following the completion of the transaction, the chief executive officer now owns 573,252 shares of the company’s stock, valued at approximately $7,343,358.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dror Levy sold 4,060 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $12.85, for a total value of $52,171.00. The disclosure for this sale can be found here. In the last three months, insiders sold 57,321 shares of company stock valued at $737,774. Insiders own 5.18% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Alambic Investment Management L.P. lifted its holdings in shares of DSP Group by 62.7% in the 4th quarter. Alambic Investment Management L.P. now owns 17,473 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 6,733 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of DSP Group in the 4th quarter valued at about $137,000. SG Americas Securities LLC purchased a new position in shares of DSP Group in the 4th quarter valued at about $186,000. Schwab Charles Investment Management Inc. increased its stake in shares of DSP Group by 21.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 45,900 shares of the semiconductor company’s stock valued at $574,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Senvest Management LLC increased its stake in shares of DSP Group by 0.9% in the 3rd quarter. Senvest Management LLC now owns 1,846,744 shares of the semiconductor company’s stock valued at $24,008,000 after purchasing an additional 15,652 shares in the last quarter. 74.83% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $16.00 price target on shares of DSP Group in a research report on Thursday, November 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of DSP Group in a research report on Thursday. Zacks Investment Research raised DSP Group from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. BidaskClub cut DSP Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, TheStreet cut DSP Group from a “b-” rating to a “c+” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.60.
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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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