DSP Group (DSPG) Cut to Sell at Zacks Investment Research
Zacks Investment Research cut shares of DSP Group (NASDAQ:DSPG) from a hold rating to a sell rating in a report published on Tuesday morning.
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. “
DSPG has been the topic of several other reports. Canaccord Genuity restated a buy rating and issued a $16.00 price target on shares of DSP Group in a research note on Thursday, November 2nd. TheStreet downgraded shares of DSP Group from a b- rating to a c+ rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $14.60.
Shares of DSP Group (NASDAQ DSPG) opened at $12.65 on Tuesday. DSP Group has a 1 year low of $9.80 and a 1 year high of $14.20. The stock has a market cap of $282.39, a price-to-earnings ratio of -158.13 and a beta of 0.86.
DSP Group (NASDAQ:DSPG) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. DSP Group had a negative net margin of 1.21% and a positive return on equity of 2.93%. The firm had revenue of $34.30 million for the quarter, compared to analyst estimates of $34.00 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. equities analysts predict that DSP Group will post -0.05 EPS for the current fiscal year.
In other news, Director Patrick Tanguy sold 15,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $12.80, for a total value of $192,000.00. Following the completion of the transaction, the director now owns 31,000 shares of the company’s stock, valued at $396,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yair Seroussi sold 12,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $13.10, for a total transaction of $157,200.00. Following the completion of the transaction, the director now directly owns 26,000 shares of the company’s stock, valued at approximately $340,600. The disclosure for this sale can be found here. Insiders sold 57,321 shares of company stock valued at $737,774 in the last three months. Company insiders own 5.18% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in DSP Group by 51.1% in the 2nd quarter. Alliancebernstein L.P. now owns 35,800 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 12,100 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in DSP Group by 21.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 81,491 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 14,300 shares during the last quarter. Senvest Management LLC raised its holdings in DSP Group by 17.9% in the 2nd quarter. Senvest Management LLC now owns 1,831,092 shares of the semiconductor company’s stock valued at $21,241,000 after buying an additional 278,041 shares during the last quarter. Northern Trust Corp raised its holdings in DSP Group by 3.5% in the 2nd quarter. Northern Trust Corp now owns 259,261 shares of the semiconductor company’s stock valued at $3,007,000 after buying an additional 8,770 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in DSP Group by 21.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 137,761 shares of the semiconductor company’s stock valued at $1,598,000 after buying an additional 24,182 shares during the last quarter. 74.80% of the stock is owned by hedge funds and other institutional investors.
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DSP Group Company Profile
DSP Group, Inc is a global provider of wireless and audio chipset solutions for converged communications. Delivering semiconductor system solutions with software and hardware reference designs, the Company enables original equipment manufacturers, original design manufacturers, consumer electronics manufacturers and service providers to develop new products.
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