Zacks Investment Research upgraded shares of DSP Group (NASDAQ:DSPG) from a hold rating to a buy rating in a report issued on Monday morning. The brokerage currently has $15.00 target price on the semiconductor company’s stock.

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. “

Other analysts have also recently issued reports about the company. BidaskClub raised DSP Group from a buy rating to a strong-buy rating in a research report on Friday, January 11th. Needham & Company LLC reaffirmed a buy rating and issued a $15.00 price objective on shares of DSP Group in a research report on Monday, February 4th. Five analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $15.00.

Shares of NASDAQ DSPG opened at $13.55 on Monday. DSP Group has a 52 week low of $10.15 and a 52 week high of $14.52. The company has a market cap of $312.01 million, a P/E ratio of 59.96, a P/E/G ratio of 4.38 and a beta of 0.76.

DSP Group (NASDAQ:DSPG) last issued its quarterly earnings results on Monday, February 4th. The semiconductor company reported $0.04 EPS for the quarter, beating the 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 firm had revenue of $26.06 million during the quarter, compared to analysts’ expectations of $26.50 million. During the same period in the prior year, the firm posted $0.06 earnings per share. Equities analysts predict that DSP Group will post 0.21 EPS for the current fiscal year.

In other DSP Group news, Director Cynthia Paul acquired 22,832 shares of the business’s stock in a transaction dated Wednesday, December 26th. The stock was bought at an average cost of $10.56 per share, with a total value of $241,105.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.25% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSPG. Municipal Employees Retirement System of Michigan acquired a new stake in shares of DSP Group in the fourth quarter valued at approximately $72,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of DSP Group in the fourth quarter valued at approximately $82,000. Van ECK Associates Corp lifted its position in shares of DSP Group by 17.0% in the fourth quarter. Van ECK Associates Corp now owns 8,349 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 1,212 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of DSP Group by 50.4% in 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 buying an additional 9,523 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of DSP Group by 5.0% in the fourth quarter. Arizona State Retirement System now owns 29,738 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 1,419 shares during the last quarter. 77.51% of the stock is owned by institutional investors.

About DSP Group

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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