Wells Fargo & Company MN grew its stake in shares of DSP Group, Inc. (NASDAQ:DSPG) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 860,233 shares of the semiconductor company’s stock after acquiring an additional 19,239 shares during the period. Wells Fargo & Company MN owned about 3.87% of DSP Group worth $11,183,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in DSPG. ETF Managers Group LLC bought a new position in shares of DSP Group in the 2nd quarter worth about $117,000. Arizona State Retirement System lifted its position in shares of DSP Group by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 11,515 shares of the semiconductor company’s stock worth $134,000 after buying an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of DSP Group by 70.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,337 shares of the semiconductor company’s stock worth $147,000 after buying an additional 4,672 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of DSP Group by 20.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 13,530 shares of the semiconductor company’s stock worth $157,000 after buying an additional 2,280 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of DSP Group by 16.1% in the 2nd quarter. Voya Investment Management LLC now owns 15,013 shares of the semiconductor company’s stock worth $174,000 after buying an additional 2,082 shares during the last quarter. 74.80% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on DSPG. Zacks Investment Research downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. TheStreet downgraded shares of DSP Group from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Canaccord Genuity restated a “buy” rating and issued a $16.00 price target on shares of DSP Group in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. DSP Group currently has a consensus rating of “Hold” and a consensus target price of $14.60.
DSP Group (NASDAQ:DSPG) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The firm had revenue of $34.30 million for the quarter, compared to the consensus estimate of $34.00 million. DSP Group had a negative net margin of 1.21% and a positive return on equity of 2.93%. DSP Group’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. sell-side analysts expect that DSP Group, Inc. will post -0.05 EPS for the current year.
In related news, CFO Dror Levy sold 4,060 shares of DSP Group stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $12.85, for a total value of $52,171.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ofer Elyakim sold 26,261 shares of DSP Group stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $12.81, for a total transaction of $336,403.41. Following the completion of the sale, the chief executive officer now owns 573,252 shares in the company, valued at $7,343,358.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,321 shares of company stock worth $737,774. 5.18% of the stock is currently owned by insiders.
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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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