Brokerages Set DSP Group, Inc. (DSPG) Target Price at $14.20

DSP Group, Inc. (NASDAQ:DSPG) has received an average rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.20.

A number of research firms have recently issued reports on DSPG. Zacks Investment Research cut DSP Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub raised DSP Group from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Needham & Company LLC raised their price objective on DSP Group from $12.50 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th.

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In related news, CFO Dror Levy sold 5,937 shares of DSP Group stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $12.18, for a total transaction of $72,312.66. Following the completion of the sale, 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 accessible through the SEC website. Company insiders own 6.01% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DSPG. Hartford Investment Management Co. acquired a new stake in DSP Group during the 2nd quarter worth approximately $116,000. ETF Managers Group LLC acquired a new stake in DSP Group during the 2nd quarter worth approximately $117,000. Arizona State Retirement System lifted its holdings in DSP Group by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 11,515 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 200 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in DSP Group by 20.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 13,530 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 2,280 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in DSP Group by 16.1% during the 2nd quarter. Voya Investment Management LLC now owns 15,013 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 2,082 shares during the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.

DSP Group (NASDAQ:DSPG) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $31.30 million during the quarter, compared to analysts’ expectations of $30.93 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was down 13.4% on a year-over-year basis.

DSP Group announced that its board has authorized a stock buyback program on Monday, August 14th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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)

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