DSP Group, Inc. (NASDAQ:DSPG) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01, Bloomberg Earnings reports. DSP Group had a return on equity of 3.47% and a net margin of 2.40%. The firm had revenue of $34.30 million during the quarter, compared to the consensus estimate of $34.00 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year.
A number of equities research analysts have issued reports on DSPG shares. BidaskClub raised DSP Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded DSP Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. DSP Group presently has a consensus rating of “Buy” and an average target price of $14.20.
DSP Group announced that its Board of Directors has authorized a stock buyback program on Monday, August 14th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
About DSP Group
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.
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