Needham & Company LLC restated their buy rating on shares of DSP Group (NASDAQ:DSPG) in a research note published on Thursday. They currently have a $15.00 target price on the semiconductor company’s stock.
“With an expected decline in DSPG’s Legacy cordless business of ~(-15% to -20%) next year we believe that new products will need to ramp significantly to sustain growth (we est. 25% Y/Y in 2018 and 20% Y/Y 2019). In VoIP we believe DSPG is gaining market share against TI and Broadcom (expect 16% Y/Y growth in 2018. In Smart Home we are seeing traction with the adoption of ULE into home gateways but note that a major US customer’s project (est. at ~$2M yearly potential) has been put on hold until later in the year. While we believe DSPG is gaining design wins in SmartVoice (8 new products including Samsung A8 smartphone) the business remains lumpy.”,” Needham & Company LLC’s analyst wrote.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of DSP Group from a sell rating to a hold rating in a research report on Thursday, November 23rd. TheStreet cut shares of DSP Group from a b- rating to a c+ rating in a research report on Wednesday, November 8th. Canaccord Genuity restated a buy rating and set a $16.00 target price on shares of DSP Group in a research report on Thursday, November 2nd. Finally, BidaskClub cut shares of DSP Group from a hold rating to a sell rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $14.60.
Shares of DSP Group (DSPG) opened at $12.45 on Thursday. The company has a market cap of $277.92, a PE ratio of 73.24, a P/E/G ratio of 2.96 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.
DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $31.20 million for the quarter, compared to the consensus estimate of $31.13 million. DSP Group had a negative net margin of 2.41% and a positive return on equity of 2.71%. The firm’s revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. analysts anticipate that DSP Group will post 0.28 earnings per share for the current fiscal year.
In other DSP Group news, Director Patrick Tanguy sold 15,000 shares of DSP Group stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $12.80, for a total transaction of $192,000.00. Following the completion of the transaction, the director now owns 31,000 shares in the company, valued at $396,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yair Seroussi sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $13.10, for a total transaction of $157,200.00. Following the completion of the transaction, the director now directly owns 26,000 shares of the company’s stock, valued at approximately $340,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,321 shares of company stock valued at $737,774. 5.18% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of DSP Group by 51.1% in the second quarter. Alliancebernstein L.P. now owns 35,800 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 12,100 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of DSP Group by 21.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 81,491 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 14,300 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of DSP Group by 21.3% in the second quarter. Ameriprise Financial Inc. now owns 137,761 shares of the semiconductor company’s stock valued at $1,598,000 after buying an additional 24,182 shares during the last quarter. Northern Trust Corp raised its position in shares of DSP Group by 3.5% in the second quarter. Northern Trust Corp now owns 259,261 shares of the semiconductor company’s stock valued at $3,007,000 after buying an additional 8,770 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of 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 buying an additional 19,239 shares during the last quarter. 74.89% of the stock is owned by institutional investors and hedge funds.
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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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