DSP Group (DSPG) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of DSP Group (NASDAQ:DSPG) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

DSPG has been the subject of several other research reports. ValuEngine upgraded DSP Group from a hold rating to a buy rating in a report on Thursday, November 1st. Zacks Investment Research upgraded DSP Group from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Thursday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $15.25.

NASDAQ:DSPG opened at $12.64 on Friday. DSP Group has a 12-month low of $10.15 and a 12-month high of $13.45. The stock has a market cap of $275.23 million, a P/E ratio of 74.35, a price-to-earnings-growth ratio of 3.88 and a beta of 0.64.

DSP Group (NASDAQ:DSPG) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $32.62 million during the quarter, compared to analysts’ expectations of $33.00 million. DSP Group had a positive return on equity of 3.96% and a negative net margin of 1.44%. As a group, analysts forecast that DSP Group will post -0.06 EPS for the current fiscal year.

In other DSP Group news, Director Thomas A. Lacey purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average cost of $11.40 per share, with a total value of $45,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cynthia Paul purchased 22,832 shares of the firm’s stock in a transaction that occurred on Wednesday, December 26th. The shares were acquired at an average cost of $10.56 per share, with a total value of $241,105.92. The disclosure for this purchase can be found here. In the last quarter, insiders bought 92,509 shares of company stock valued at $995,021. Company insiders own 5.25% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc lifted its stake in shares of DSP Group by 15.2% during the 3rd quarter. Vanguard Group Inc now owns 1,500,678 shares of the semiconductor company’s stock worth $17,858,000 after acquiring an additional 197,804 shares during the last quarter. Vanguard Group Inc. raised its position in DSP Group by 15.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,500,678 shares of the semiconductor company’s stock valued at $17,858,000 after purchasing an additional 197,804 shares in the last quarter. Algert Global LLC raised its position in DSP Group by 416.6% during the 3rd quarter. Algert Global LLC now owns 61,990 shares of the semiconductor company’s stock valued at $738,000 after purchasing an additional 49,990 shares in the last quarter. Renaissance Technologies LLC raised its position in DSP Group by 4.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,005,444 shares of the semiconductor company’s stock valued at $11,965,000 after purchasing an additional 41,650 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in DSP Group by 25.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 107,694 shares of the semiconductor company’s stock valued at $1,282,000 after purchasing an additional 21,787 shares in the last quarter. 82.18% of the stock is owned by hedge funds and other 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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