Needham & Company LLC Reaffirms Buy Rating for DSP Group (DSPG)

DSP Group (NASDAQ:DSPG)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday. They currently have a $15.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 20.48% from the company’s current price.

The analysts wrote, “DSP issued a press release indicating its low-power voice processor (DBMD5) was recently qualified on the Alexa ecosystem. Kit is now available for Amazon Voice Services (AVS), which enables developers to integrate voice directly into their products. While late to the game, with this announcement, DSP joins other voice processors from companies such as to become a qualified voice processor supplier. While no specific customers have been announced, we anticipate this qualification will significantly expand DSP’s TAM and should see design wins announced in the 2H18 and revenue in 2019.””

A number of other brokerages also recently issued reports on DSPG. BidaskClub raised shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. Cowen began coverage on shares of DSP Group in a research report on Thursday, May 17th. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research raised shares of DSP Group from a “sell” rating to a “hold” rating in a research report on Monday, May 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.40.

Shares of DSPG stock opened at $12.45 on Friday. DSP Group has a 52-week low of $10.80 and a 52-week high of $13.95. The stock has a market capitalization of $282.98 million, a price-to-earnings ratio of 73.24, a PEG ratio of 5.72 and a beta of 0.81.

DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Monday, April 30th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $28.11 million during the quarter, compared to the consensus estimate of $28.00 million. During the same period in the prior year, the firm posted ($0.05) EPS. equities analysts predict that DSP Group will post 0.15 earnings per share for the current fiscal year.

In other news, Director Patrick Tanguy sold 16,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $12.50, for a total transaction of $200,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia Paul bought 39,532 shares of DSP Group stock in a transaction dated Thursday, June 21st. The shares were bought at an average cost of $11.75 per share, with a total value of $464,501.00. The disclosure for this purchase can be found here. Insiders acquired a total of 145,403 shares of company stock valued at $1,716,221 over the last ninety days. 5.25% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. A.R.T. Advisors LLC bought a new position in shares of DSP Group during the 1st quarter valued at approximately $125,000. MetLife Investment Advisors LLC bought a new position in shares of DSP Group during the 4th quarter valued at approximately $141,000. SG Americas Securities LLC bought a new position in shares of DSP Group during the 4th quarter valued at approximately $186,000. JPMorgan Chase & Co. grew its position in shares of DSP Group by 188.0% during the 1st quarter. JPMorgan Chase & Co. now owns 17,617 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 11,500 shares during the period. Finally, Chicago Equity Partners LLC grew its position in shares of DSP Group by 160.6% during the 1st quarter. Chicago Equity Partners LLC now owns 28,670 shares of the semiconductor company’s stock valued at $338,000 after acquiring an additional 17,670 shares during the period. 76.45% of the stock is owned by hedge funds and other institutional investors.

About DSP Group

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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