DSP Group (NASDAQ:DSPG) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of DSP Group (NASDAQ:DSPG) from a hold rating to a buy rating in a research report sent to investors on Monday, ValuEngine reports.

Other analysts also recently issued research reports about the company. Needham & Company LLC set a $18.00 target price on DSP Group and gave the company a buy rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded DSP Group from a buy rating to a hold rating in a research note on Monday, July 29th. Finally, BidaskClub downgraded DSP Group from a buy rating to a hold rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $18.25.

Shares of DSPG opened at $14.68 on Monday. The business’s 50 day moving average is $14.22 and its 200 day moving average is $14.31. The company has a market capitalization of $341.54 million, a PE ratio of 55.19, a price-to-earnings-growth ratio of 13.55 and a beta of 0.78. DSP Group has a 12-month low of $10.15 and a 12-month high of $16.30. The company has a current ratio of 3.19, a quick ratio of 2.79 and a debt-to-equity ratio of 0.07.

DSP Group (NASDAQ:DSPG) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $29.03 million for the quarter, compared to the consensus estimate of $29.00 million. DSP Group had a positive return on equity of 4.53% and a negative net margin of 1.30%. Equities research analysts predict that DSP Group will post 0.07 earnings per share for the current year.

In other DSP Group news, CFO Dror Levy sold 17,829 shares of DSP Group stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $15.56, for a total value of $277,419.24. Following the sale, the chief financial officer now owns 201,000 shares of the company’s stock, valued at approximately $3,127,560. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC increased its stake in DSP Group by 128.0% in the 2nd quarter. Citadel Advisors LLC now owns 25,348 shares of the semiconductor company’s stock worth $364,000 after acquiring an additional 14,232 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of DSP Group in the 2nd quarter worth approximately $194,000. Jefferies Group LLC purchased a new position in shares of DSP Group in the 2nd quarter worth approximately $363,000. Bank of America Corp DE boosted its holdings in shares of DSP Group by 47.7% in the 2nd quarter. Bank of America Corp DE now owns 45,982 shares of the semiconductor company’s stock worth $660,000 after purchasing an additional 14,850 shares during the period. Finally, Algert Global LLC purchased a new position in shares of DSP Group in the 2nd quarter worth approximately $308,000. 78.45% of the stock is currently owned by institutional investors and hedge funds.

About DSP Group

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