DSP Group, Inc. (DSPG) CFO Dror Levy Sells 4,060 Shares
DSP Group, Inc. (NASDAQ:DSPG) CFO Dror Levy sold 4,060 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $12.85, for a total value of $52,171.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
DSP Group, Inc. (NASDAQ DSPG) opened at $12.85 on Tuesday. The firm has a market capitalization of $286.85, a PE ratio of 69.72 and a beta of 0.87. DSP Group, Inc. has a one year low of $9.80 and a one year high of $14.20.
DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $34.30 million during the quarter, compared to analyst estimates of $34.00 million. DSP Group had a positive return on equity of 2.93% and a negative net margin of 1.21%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. equities analysts predict that DSP Group, Inc. will post -0.05 earnings per share for the current fiscal year.
DSP Group declared that its board has authorized a share repurchase program on Monday, August 14th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several research firms have issued reports on DSPG. Canaccord Genuity reissued a “buy” rating and set a $16.00 price target on shares of DSP Group in a report on Thursday, November 2nd. BidaskClub raised DSP Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research lowered DSP Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, TheStreet lowered DSP Group from a “b-” rating to a “c+” rating in a report on Wednesday, November 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. DSP Group presently has an average rating of “Buy” and an average target price of $14.60.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Senvest Management LLC boosted its stake in shares of DSP Group by 0.9% in the third quarter. Senvest Management LLC now owns 1,846,744 shares of the semiconductor company’s stock worth $24,008,000 after acquiring an additional 15,652 shares during the period. Wells Fargo & Company MN boosted its stake in shares of DSP Group by 2.3% in the third quarter. Wells Fargo & Company MN now owns 860,233 shares of the semiconductor company’s stock worth $11,183,000 after acquiring an additional 19,239 shares during the period. BNP Paribas Arbitrage SA boosted its stake 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 worth $147,000 after acquiring an additional 4,672 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of DSP Group by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 20,520 shares of the semiconductor company’s stock worth $239,000 after acquiring an additional 1,688 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of DSP Group by 21.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 81,491 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 14,300 shares during the period. 74.26% of the stock is owned by hedge funds and other institutional investors.
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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