DSP Group (DSPG) Upgraded by Zacks Investment Research to Buy

DSP Group (NASDAQ:DSPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $15.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.70% from the stock’s previous close.

According to Zacks, “DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors, portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. “

Several other research analysts have also issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of DSP Group in a research report on Monday, March 4th. BidaskClub upgraded DSP Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $15.00.

Shares of NASDAQ:DSPG traded down $0.24 during trading hours on Monday, hitting $13.55. 95,300 shares of the company’s stock traded hands, compared to its average volume of 105,461. DSP Group has a 1 year low of $10.15 and a 1 year high of $14.52. The firm has a market capitalization of $312.07 million, a PE ratio of 58.91, a price-to-earnings-growth ratio of 4.38 and a beta of 0.76.

DSP Group (NASDAQ:DSPG) last announced its earnings results on Monday, February 4th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. DSP Group had a positive return on equity of 3.78% and a negative net margin of 1.67%. The business had revenue of $26.06 million during the quarter, compared to analyst estimates of $26.50 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. Analysts expect that DSP Group will post 0.21 earnings per share for the current fiscal year.

In other DSP Group news, Director Cynthia Paul bought 22,832 shares of the company’s stock in a transaction on Wednesday, December 26th. The stock was acquired at an average price of $10.56 per share, for a total transaction of $241,105.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.25% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan bought a new stake in shares of DSP Group during the fourth quarter valued at approximately $72,000. Oregon Public Employees Retirement Fund bought a new stake in shares of DSP Group during the fourth quarter valued at approximately $82,000. Van ECK Associates Corp raised its stake in shares of DSP Group by 17.0% during the fourth quarter. Van ECK Associates Corp now owns 8,349 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 1,212 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of DSP Group by 50.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 28,407 shares of the semiconductor company’s stock valued at $292,000 after acquiring an additional 9,523 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of DSP Group by 5.0% during the fourth quarter. Arizona State Retirement System now owns 29,738 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 1,419 shares in the last quarter. 77.51% 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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