Cowen Initiates Coverage on DSP Group (DSPG)

Cowen started coverage on shares of DSP Group (NASDAQ:DSPG) in a report issued on Thursday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $15.00 target price on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $15.00 price target on shares of DSP Group in a research note on Thursday, February 1st. Dougherty & Co lifted their price target on shares of DSP Group from $15.00 to $17.00 and gave the company a buy rating in a research note on Thursday, February 8th. Zacks Investment Research raised shares of DSP Group from a sell rating to a hold rating and set a $14.00 price target for the company in a research note on Thursday, April 5th. Finally, BidaskClub raised shares of DSP Group from a sell rating to a hold rating in a research note on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. DSP Group presently has an average rating of Buy and a consensus price target of $15.40.

DSP Group opened at $12.65 on Thursday, MarketBeat Ratings reports. DSP Group has a fifty-two week low of $10.80 and a fifty-two week high of $13.95. The company has a market cap of $287.52 million, a PE ratio of 55.00, a P/E/G ratio of 5.82 and a beta of 0.78.

DSP Group (NASDAQ:DSPG) last posted its quarterly earnings results on Monday, April 30th. The semiconductor company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. DSP Group had a negative net margin of 1.51% and a positive return on equity of 3.57%. The firm had revenue of $28.11 million during the quarter, compared to the consensus estimate of $28.00 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. sell-side analysts expect that DSP Group will post 0.15 EPS for the current fiscal year.

In related news, Director Patrick Tanguy sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $12.50, for a total value of $200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.25% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in DSP Group by 2.4% in the first quarter. Principal Financial Group Inc. now owns 171,103 shares of the semiconductor company’s stock worth $2,019,000 after buying an additional 4,061 shares in the last quarter. Alambic Investment Management L.P. raised its stake in DSP Group by 62.7% in the fourth quarter. Alambic Investment Management L.P. now owns 17,473 shares of the semiconductor company’s stock worth $218,000 after buying an additional 6,733 shares in the last quarter. Wells Fargo & Company MN raised its stake in DSP Group by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 867,157 shares of the semiconductor company’s stock worth $10,839,000 after buying an additional 6,924 shares in the last quarter. Rhumbline Advisers raised its stake in DSP Group by 15.4% in the fourth quarter. Rhumbline Advisers now owns 53,794 shares of the semiconductor company’s stock worth $672,000 after buying an additional 7,163 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in DSP Group by 21.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 45,900 shares of the semiconductor company’s stock worth $574,000 after buying an additional 8,200 shares in the last quarter. 76.45% of the stock is owned by institutional investors.

DSP Group Company Profile

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications worldwide. 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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