Canaccord Genuity reiterated their buy rating on shares of DSP Group, Inc. (NASDAQ:DSPG) in a report published on Thursday morning. Canaccord Genuity currently has a $16.00 target price on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on DSPG. BidaskClub raised DSP Group from a strong sell rating to a sell rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded DSP Group from a hold rating to a sell rating in a research report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. DSP Group currently has a consensus rating of Buy and a consensus price target of $14.60.

Shares of DSP Group (NASDAQ:DSPG) traded down $0.55 during trading on Thursday, hitting $12.90. The stock had a trading volume of 133,873 shares, compared to its average volume of 64,807. The stock has a market capitalization of $287.02, a price-to-earnings ratio of 74.72, a P/E/G ratio of 14.94 and a beta of 0.87. DSP Group has a 1 year low of $9.80 and a 1 year high of $14.20.

DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. DSP Group had a positive return on equity of 2.93% and a negative net margin of 1.21%. The firm had revenue of $34.30 million for the quarter, compared to analyst estimates of $34.00 million. During the same quarter last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. equities analysts forecast that DSP Group will post 0.06 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “DSP Group, Inc. (DSPG) Given “Buy” Rating at Canaccord Genuity” was reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.watchlistnews.com/dsp-group-inc-dspg-given-buy-rating-at-canaccord-genuity/1683830.html.

DSP Group announced that its Board of Directors has authorized a stock 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 usually an indication that the company’s board believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the business. Hartford Investment Management Co. acquired a new stake in DSP Group in the second quarter worth about $116,000. ETF Managers Group LLC acquired a new stake in DSP Group in the second quarter worth about $117,000. Arizona State Retirement System boosted its holdings in DSP Group by 1.8% in the first quarter. Arizona State Retirement System now owns 11,315 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in 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 in the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in DSP Group by 20.3% in the second quarter. Thrivent Financial For Lutherans now owns 13,530 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 2,280 shares in the last quarter. 74.27% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for DSP Group (NASDAQ:DSPG)

Receive News & Ratings for DSP Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DSP Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.