Yair Seroussi Sells 12,000 Shares of DSP Group, Inc. (DSPG) Stock
DSP Group, Inc. (NASDAQ:DSPG) Director Yair Seroussi sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $13.10, for a total value of $157,200.00. Following the completion of the sale, the director now owns 26,000 shares of the company’s stock, valued at approximately $340,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of DSP Group, Inc. (DSPG) remained flat at $$13.00 during midday trading on Friday. 36,020 shares of the company traded hands, compared to its average volume of 59,854. The stock has a market cap of $290.20, a PE ratio of 72.22 and a beta of 0.86. DSP Group, Inc. has a 12-month low of $9.80 and a 12-month high of $14.20.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating 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%. DSP Group’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. equities analysts forecast that DSP Group, Inc. will post -0.05 EPS for the current fiscal year.
DSP Group declared that its Board of Directors has approved 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 a sign that the company’s leadership believes its stock is undervalued.
A number of analysts recently issued reports on DSPG shares. TheStreet lowered DSP Group from a “b-” rating to a “c+” rating in a report on Wednesday, November 8th. Zacks Investment Research upgraded DSP Group from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. BidaskClub upgraded DSP Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $16.00 price target on shares of DSP Group in a report on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.60.
A number of large investors have recently modified their holdings of DSPG. Senvest Management LLC raised its stake in DSP Group by 17.9% in the second quarter. Senvest Management LLC now owns 1,831,092 shares of the semiconductor company’s stock worth $21,241,000 after buying an additional 278,041 shares in the last quarter. Vanguard Group Inc. raised its stake in DSP Group by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,141,427 shares of the semiconductor company’s stock worth $13,697,000 after buying an additional 55,238 shares in the last quarter. State Street Corp raised its stake in DSP Group by 6.1% in the second quarter. State Street Corp now owns 558,027 shares of the semiconductor company’s stock worth $6,472,000 after buying an additional 31,863 shares in the last quarter. Ameriprise Financial Inc. raised its stake in DSP Group by 21.3% in the second quarter. Ameriprise Financial Inc. now owns 137,761 shares of the semiconductor company’s stock worth $1,598,000 after buying an additional 24,182 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in DSP Group by 128.9% in the first quarter. Bank of America Corp DE now owns 40,582 shares of the semiconductor company’s stock worth $487,000 after buying an additional 22,856 shares in the last quarter. 74.80% of the stock is owned by institutional investors.
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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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