DSP Group (DSPG) Lifted to Buy at Zacks Investment Research

DSP Group (NASDAQ:DSPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $14.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.18% from the company’s previous close.

According to Zacks, “DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors, portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. “

DSPG has been the subject of a number of other research reports. BidaskClub raised shares of DSP Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. ValuEngine raised shares of DSP Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $15.25.

NASDAQ:DSPG traded up $0.08 during trading hours on Thursday, hitting $12.48. 30,600 shares of the company’s stock traded hands, compared to its average volume of 76,100. DSP Group has a 52 week low of $10.15 and a 52 week high of $13.45. The firm has a market capitalization of $255.48 million, a price-to-earnings ratio of 73.41, a P/E/G ratio of 3.60 and a beta of 0.64.

DSP Group (NASDAQ:DSPG) last released its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $32.62 million for the quarter, compared to analysts’ expectations of $33.00 million. DSP Group had a positive return on equity of 3.96% and a negative net margin of 1.44%. On average, equities analysts predict that DSP Group will post -0.06 earnings per share for the current year.

In other DSP Group news, Director Cynthia Paul acquired 22,832 shares of the business’s stock in a transaction dated Wednesday, December 26th. The shares were acquired at an average price of $10.56 per share, for a total transaction of $241,105.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas A. Lacey purchased 4,000 shares of DSP Group stock in a transaction on Tuesday, November 20th. The shares were purchased at an average cost of $11.40 per share, with a total value of $45,600.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 104,818 shares of company stock valued at $1,133,867. 5.25% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of DSP Group during the third quarter valued at approximately $2,670,000. Algert Global LLC raised its position in DSP Group by 416.6% during the 3rd quarter. Algert Global LLC now owns 61,990 shares of the semiconductor company’s stock valued at $738,000 after purchasing an additional 49,990 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of DSP Group by 1.1% in the 3rd quarter. Wells Fargo & Company MN now owns 918,911 shares of the semiconductor company’s stock worth $10,935,000 after acquiring an additional 9,557 shares in the last quarter. Acadian Asset Management LLC increased its position in DSP Group by 122.4% during the 3rd quarter. Acadian Asset Management LLC now owns 45,681 shares of the semiconductor company’s stock valued at $543,000 after buying an additional 25,142 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in DSP Group during the 2nd quarter valued at $5,198,000. Institutional investors own 82.18% of the company’s stock.

About DSP Group

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications worldwide. It operates through three segments: Home, Office, and SmartVoice. The company provides a portfolio of wireless chipsets that integrate DECT/CAT-iq, ULE, Wi-Fi, PSTN, HDClear, video, and VoIP technologies.

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