DSP Group (NASDAQ:DSPG) Shares Cross Above 200 Day Moving Average of $15.15


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DSP Group, Inc. (NASDAQ:DSPG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.15 and traded as high as $16.89. DSP Group shares last traded at $16.48, with a volume of 294,906 shares trading hands.

A number of research firms have recently commented on DSPG. Lake Street Capital upped their price objective on shares of DSP Group from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, December 17th. Zacks Investment Research downgraded shares of DSP Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.80.

The firm has a market cap of $388.88 million, a PE ratio of -68.67 and a beta of 1.00. The stock has a fifty day moving average price of $16.54 and a 200-day moving average price of $15.15.

DSP Group (NASDAQ:DSPG) last issued its earnings results on Saturday, November 7th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. DSP Group had a positive return on equity of 2.30% and a negative net margin of 4.93%. The business had revenue of $26.02 million during the quarter, compared to analysts’ expectations of $26.00 million. As a group, sell-side analysts forecast that DSP Group, Inc. will post -0.12 EPS for the current year.

In other DSP Group news, Director Cynthia Paul sold 4,512 shares of the company’s stock in a transaction that occurred on Tuesday, December 8th. The stock was sold at an average price of $17.42, for a total value of $78,599.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yair Seroussi sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $15.90, for a total value of $127,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 65,847 shares of company stock valued at $1,110,066 in the last quarter. Company insiders own 8.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in DSP Group by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,166 shares of the semiconductor company’s stock worth $201,000 after acquiring an additional 841 shares during the period. Great West Life Assurance Co. Can boosted its holdings in DSP Group by 5.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 29,542 shares of the semiconductor company’s stock worth $469,000 after acquiring an additional 1,515 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in DSP Group by 3.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 54,534 shares of the semiconductor company’s stock worth $866,000 after acquiring an additional 1,710 shares during the period. US Bancorp DE boosted its holdings in DSP Group by 2,180.5% in the 3rd quarter. US Bancorp DE now owns 1,870 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 1,788 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of DSP Group by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 50,129 shares of the semiconductor company’s stock valued at $661,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 79.68% of the company’s stock.

About DSP Group (NASDAQ:DSPG)

DSP Group, Inc, a fabless semiconductor company, provides wireless, audio, voice, and AI chipsets for smart-enabled devices. It operates through three segments: Home, Unified Communications, and SmartVoice. The Home segment offers wireless chipset solutions for converged communication at home, including integrated circuits for cordless phones, home gateway devices, integrated circuits addressing home automation applications, and fixed-mobile convergence solutions.

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