DSP Group (DSPG) Lifted to “Buy” at Zacks Investment Research

DSP Group (NASDAQ:DSPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $16.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.22% from the stock’s current price.

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. “

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of DSP Group in a report on Monday, March 4th. BidaskClub raised shares of DSP Group from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.33.

Shares of DSP Group stock traded up $0.15 during trading hours on Tuesday, reaching $14.65. 98,400 shares of the company’s stock were exchanged, compared to its average volume of 106,519. DSP Group has a 1 year low of $10.15 and a 1 year high of $14.94. The firm has a market capitalization of $329.27 million, a price-to-earnings ratio of 63.70, a PEG ratio of 4.69 and a beta of 0.76.

DSP Group (NASDAQ:DSPG) last released its earnings results on Monday, February 4th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.07. DSP Group had a negative net margin of 1.67% and a positive return on equity of 3.78%. The business had revenue of $26.06 million during the quarter, compared to analyst estimates of $26.50 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, equities analysts expect that DSP Group will post 0.21 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of DSP Group by 17.0% during the 4th quarter. Van ECK Associates Corp now owns 8,349 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 1,212 shares during the last quarter. Arizona State Retirement System boosted its position in shares of DSP Group by 5.0% during the 4th quarter. Arizona State Retirement System now owns 29,738 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 1,419 shares during the last quarter. Worth Venture Partners LLC boosted its position in shares of DSP Group by 5.5% during the 4th quarter. Worth Venture Partners LLC now owns 31,389 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 1,640 shares during the last quarter. ETF Managers Group LLC boosted its position in shares of DSP Group by 14.8% during the 4th quarter. ETF Managers Group LLC now owns 30,201 shares of the semiconductor company’s stock valued at $338,000 after acquiring an additional 3,903 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of DSP Group during the 4th quarter valued at about $72,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

DSP Group Company Profile

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications worldwide. 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.

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