DSP Group (NASDAQ:DSPG) Cut to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of DSP Group (NASDAQ:DSPG) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

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 topic of several other research reports. Needham & Company LLC set a $18.00 price objective on shares of DSP Group and gave the company a buy rating in a research report on Wednesday, July 31st. ValuEngine lowered shares of DSP Group from a buy rating to a hold rating in a research report on Wednesday, September 25th. BidaskClub lowered shares of DSP Group from a buy rating to a hold rating in a research report on Wednesday, September 25th. Finally, Cowen raised their price objective on shares of DSP Group from $17.00 to $19.00 and gave the company an outperform rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. DSP Group currently has an average rating of Buy and an average target price of $18.00.

DSP Group stock traded up $0.19 during trading hours on Wednesday, hitting $15.54. 187,000 shares of the company traded hands, compared to its average volume of 127,104. The firm’s 50-day simple moving average is $14.44 and its two-hundred day simple moving average is $14.38. The company has a quick ratio of 2.79, a current ratio of 3.47 and a debt-to-equity ratio of 0.07. The firm has a market cap of $356.43 million, a P/E ratio of 67.57, a P/E/G ratio of 14.14 and a beta of 0.77. DSP Group has a 1-year low of $10.54 and a 1-year high of $16.30.

DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $31.04 million for the quarter, compared to analyst estimates of $31.00 million. DSP Group had a negative net margin of 1.24% and a positive return on equity of 4.40%. On average, equities research analysts predict that DSP Group will post 0.07 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of DSPG. Renaissance Technologies LLC raised its position in shares of DSP Group by 3.7% in the second quarter. Renaissance Technologies LLC now owns 1,143,494 shares of the semiconductor company’s stock valued at $16,421,000 after purchasing an additional 41,200 shares during the period. Heartland Advisors Inc. raised its position in shares of DSP Group by 2,729.4% in the second quarter. Heartland Advisors Inc. now owns 293,970 shares of the semiconductor company’s stock valued at $4,221,000 after purchasing an additional 283,580 shares during the period. BlackRock Inc. raised its position in shares of DSP Group by 57.3% in the second quarter. BlackRock Inc. now owns 3,154,232 shares of the semiconductor company’s stock valued at $45,296,000 after purchasing an additional 1,148,366 shares during the period. Rice Hall James & Associates LLC raised its position in shares of DSP Group by 17.6% in the third quarter. Rice Hall James & Associates LLC now owns 155,647 shares of the semiconductor company’s stock valued at $2,192,000 after purchasing an additional 23,272 shares during the period. Finally, Bank of America Corp DE raised its position in shares of DSP Group by 47.7% in the second quarter. Bank of America Corp DE now owns 45,982 shares of the semiconductor company’s stock valued at $660,000 after purchasing an additional 14,850 shares during the period. 78.21% of the stock is currently owned by hedge funds and other institutional investors.

DSP Group Company Profile

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications. 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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