DSP Group Inc. (NASDAQ:DSPG) – Equities research analysts at Dougherty & Co cut their FY2016 EPS estimates for DSP Group in a report released on Tuesday. Dougherty & Co analyst C. Anderson now anticipates that the firm will earn $0.01 per share for the year, down from their prior estimate of $0.09. Dougherty & Co also issued estimates for DSP Group’s Q1 2017 earnings at ($0.03) EPS and FY2017 earnings at $0.07 EPS.
Several other brokerages also recently weighed in on DSPG. Wunderlich increased their price target on DSP Group from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Roth Capital began coverage on DSP Group in a research report on Wednesday, August 31st. They issued a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC increased their price objective on DSP Group from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research cut DSP Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, TheStreet upgraded DSP Group from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. DSP Group currently has an average rating of “Buy” and a consensus price target of $12.58.
Shares of DSP Group (NASDAQ:DSPG) traded down 0.86% on Friday, hitting $11.48. 19,065 shares of the stock traded hands. DSP Group has a 12 month low of $7.89 and a 12 month high of $12.19. The company’s market cap is $251.34 million. The firm’s 50 day moving average is $11.71 and its 200-day moving average is $10.37.
DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Monday, August 1st. The 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 $36.20 million for the quarter, compared to analysts’ expectations of $36 million. DSP Group had a negative net margin of 1.34% and a negative return on equity of 0.31%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
In related news, CFO Dror Levy sold 11,937 shares of DSP Group stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $11.72, for a total transaction of $139,901.64. Following the completion of the sale, the chief financial officer now owns 149,060 shares in the company, valued at approximately $1,746,983.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ofer Elyakim sold 45,000 shares of DSP Group stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $11.98, for a total value of $539,100.00. Following the sale, the chief executive officer now owns 442,302 shares of the company’s stock, valued at approximately $5,298,777.96. The disclosure for this sale can be found here. 6.01% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of DSPG. Arizona State Retirement System boosted its stake in DSP Group by 3.8% in the first quarter. Arizona State Retirement System now owns 11,015 shares of the company’s stock worth $100,000 after buying an additional 400 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in DSP Group during the second quarter worth approximately $112,000. Emerald Acquisition Ltd. bought a new stake in DSP Group during the second quarter worth approximately $212,000. Alliancebernstein L.P. boosted its stake in DSP Group by 4.5% in the second quarter. Alliancebernstein L.P. now owns 25,300 shares of the company’s stock worth $268,000 after buying an additional 1,100 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in DSP Group by 6.8% in the second quarter. Teachers Advisors Inc. now owns 33,617 shares of the company’s stock worth $357,000 after buying an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 76.53% of the company’s stock.
About DSP Group