November 10, 2019 at 5:39 pm

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

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

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

NASDAQ:DSPG traded up $0.19 during trading hours on Wednesday, reaching $15.54. 187,000 shares of the stock were exchanged, compared to its average volume of 127,104. DSP Group has a twelve month low of $10.54 and a twelve month high of $16.30. The firm has a 50 day moving average of $14.44 and a 200 day moving average of $14.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.47 and a quick ratio of 2.79. The stock has a market cap of $356.43 million, a PE ratio of 67.57, a PEG ratio of 14.14 and a beta of 0.77.

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

Hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC increased its position in DSP Group by 111.1% during the 2nd quarter. Quantamental Technologies LLC now owns 2,516 shares of the semiconductor company’s stock worth $36,000 after buying an additional 1,324 shares during the period. Bank of Montreal Can increased its position in DSP Group by 473.6% during the 2nd quarter. Bank of Montreal Can now owns 4,107 shares of the semiconductor company’s stock worth $59,000 after buying an additional 3,391 shares during the period. Mason Street Advisors LLC increased its position in DSP Group by 18.0% during the 3rd quarter. Mason Street Advisors LLC now owns 7,783 shares of the semiconductor company’s stock worth $110,000 after buying an additional 1,187 shares during the period. Laurion Capital Management LP bought a new position in DSP Group during the 2nd quarter worth $144,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in DSP Group during the 2nd quarter worth $172,000. Hedge funds and other institutional investors own 78.21% of the company’s stock.

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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