DSP Group Inc. (NASDAQ:DSPG) – Investment analysts at Lake Street Capital reduced their Q1 2017 earnings per share (EPS) estimates for shares of DSP Group in a note issued to investors on Wednesday. Lake Street Capital analyst J. Schmidt now expects that the firm will post earnings of ($0.03) per share for the quarter, down from their previous forecast of $0.02.
A number of other equities analysts also recently weighed in on the stock. Wunderlich boosted their price target on shares of DSP Group from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Roth Capital assumed coverage on shares of DSP Group in a report on Wednesday, August 31st. They set a “buy” rating and a $14.00 price objective on the stock. Zacks Investment Research downgraded shares of DSP Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 16th. TheStreet raised shares of DSP Group from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Finally, Canaccord Genuity assumed coverage on shares of DSP Group in a report on Tuesday, August 9th. They set a “buy” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.58.
Shares of DSP Group (NASDAQ:DSPG) traded up 4.09% during midday trading on Friday, hitting $10.43. 86,966 shares of the company traded hands. The stock has a 50 day moving average of $11.56 and a 200-day moving average of $10.42. DSP Group has a 52 week low of $7.89 and a 52 week high of $12.19. The stock’s market capitalization is $228.35 million.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $36.20 million for the quarter, compared to analyst estimates of $36 million. DSP Group had a negative net margin of 1.34% and a negative return on equity of 0.31%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in DSP Group by 1.6% in the first quarter. Prudential Financial Inc. now owns 58,367 shares of the company’s stock valued at $532,000 after buying an additional 900 shares during the period. Kennedy Capital Management Inc. boosted its position in DSP Group by 75.3% in the first quarter. Kennedy Capital Management Inc. now owns 194,808 shares of the company’s stock valued at $1,777,000 after buying an additional 83,701 shares during the period. Roumell Asset Management LLC boosted its position in DSP Group by 8.1% in the first quarter. Roumell Asset Management LLC now owns 331,186 shares of the company’s stock valued at $3,020,000 after buying an additional 24,835 shares during the period. Emerald Acquisition Ltd. bought a new position in DSP Group during the second quarter valued at $212,000. Finally, Cadence Capital Management LLC boosted its position in DSP Group by 13.4% in the second quarter. Cadence Capital Management LLC now owns 105,779 shares of the company’s stock valued at $1,122,000 after buying an additional 12,502 shares during the period. Institutional investors own 76.53% of the company’s stock.
In related news, CFO Dror Levy sold 11,937 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $11.72, for a total value of $139,901.64. Following the transaction, the chief financial officer now directly owns 149,060 shares in the company, valued at $1,746,983.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ofer Elyakim sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $11.98, for a total transaction of $539,100.00. Following the completion of the transaction, the chief executive officer now owns 442,302 shares in the company, valued at $5,298,777.96. The disclosure for this sale can be found here. 6.01% of the stock is currently owned by insiders.
About DSP Group
DSP Group, Inc is a provider of wireless chipset solutions for converged communications. The Company delivers semiconductor system solutions with software and hardware reference designs and enables original equipment manufacturers (OEMs), original design manufacturers (ODMs), consumer electronics (CE) manufacturers and service providers to develop products.
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