DSP Group, Inc. (DSPG) Shares Bought by Legal & General Group Plc
Legal & General Group Plc grew its holdings in DSP Group, Inc. (NASDAQ:DSPG) by 12.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,142 shares of the semiconductor company’s stock after purchasing an additional 4,826 shares during the period. Legal & General Group Plc owned about 0.19% of DSP Group worth $488,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of DSPG. Nationwide Fund Advisors increased its holdings in shares of DSP Group by 92.7% in the 1st quarter. Nationwide Fund Advisors now owns 25,499 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 12,266 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of DSP Group by 62.4% in the 1st quarter. Russell Investments Group Ltd. now owns 36,215 shares of the semiconductor company’s stock worth $435,000 after purchasing an additional 13,915 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of DSP Group by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 343,167 shares of the semiconductor company’s stock worth $4,118,000 after purchasing an additional 20,639 shares in the last quarter. Comerica Bank increased its holdings in shares of DSP Group by 2.7% in the 1st quarter. Comerica Bank now owns 23,905 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 637 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of DSP Group by 4.7% in the 1st quarter. Ameriprise Financial Inc. now owns 113,579 shares of the semiconductor company’s stock worth $1,363,000 after purchasing an additional 5,050 shares in the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the company. BidaskClub raised DSP Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research raised DSP Group from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Needham & Company LLC lifted their target price on DSP Group from $12.50 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $14.20.
In related news, CFO Dror Levy sold 5,937 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $12.18, for a total value of $72,312.66. Following the transaction, the chief financial officer now directly owns 169,060 shares of the company’s stock, valued at approximately $2,059,150.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.01% of the stock is owned by corporate insiders.
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DSP Group, Inc. (DSPG) opened at 13.80 on Friday. The stock has a market capitalization of $307.04 million, a P/E ratio of 106.15 and a beta of 0.92. DSP Group, Inc. has a 1-year low of $9.80 and a 1-year high of $14.20. The stock has a 50 day moving average price of $12.35 and a 200-day moving average price of $12.14.
DSP Group (NASDAQ:DSPG) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. DSP Group had a return on equity of 3.47% and a net margin of 2.40%. The firm had revenue of $31.30 million for the quarter, compared to the consensus estimate of $30.93 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue was down 13.4% on a year-over-year basis. Equities research analysts expect that DSP Group, Inc. will post $0.20 EPS for the current year.
DSP Group announced that its board has approved a stock repurchase plan on Monday, August 14th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
About DSP Group
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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