DSP Group, Inc. (DSPG) CEO Sells $336,403.41 in Stock
DSP Group, Inc. (NASDAQ:DSPG) CEO Ofer Elyakim sold 26,261 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $12.81, for a total transaction of $336,403.41. Following the transaction, the chief executive officer now owns 573,252 shares in the company, valued at $7,343,358.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
DSP Group, Inc. (NASDAQ:DSPG) opened at $12.70 on Friday. DSP Group, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.20. The company has a market cap of $281.27, a price-to-earnings ratio of 70.00 and a beta of 0.87.
DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.10 EPS for the quarter, beating 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 the consensus estimate of $34.00 million. During the same period in the previous year, the company earned $0.19 earnings per share. The company’s quarterly revenue was down 11.6% on a year-over-year basis. equities research analysts expect that DSP Group, Inc. will post -0.05 EPS for the current fiscal year.
DSP Group declared that its board has approved a stock buyback plan on Monday, August 14th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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Several large investors have recently added to or reduced their stakes in DSPG. Hartford Investment Management Co. acquired a new position in shares of DSP Group in the second quarter valued at $116,000. ETF Managers Group LLC acquired a new position in shares of DSP Group in the second quarter valued at $117,000. Arizona State Retirement System increased its holdings in shares of DSP Group by 1.8% in the second quarter. Arizona State Retirement System now owns 11,515 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of DSP Group by 70.1% in the third quarter. BNP Paribas Arbitrage SA now owns 11,337 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 4,672 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in shares of DSP Group by 20.3% in the second quarter. Thrivent Financial For Lutherans now owns 13,530 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 2,280 shares during the last quarter. Hedge funds and other institutional investors own 74.27% of the company’s stock.
A number of brokerages recently weighed in on DSPG. Canaccord Genuity restated a “buy” rating and set a $16.00 target price on shares of DSP Group in a report on Thursday, November 2nd. BidaskClub upgraded shares of DSP Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, TheStreet downgraded shares of DSP Group from a “b-” rating to a “c+” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.60.
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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