Wells Fargo & Company MN grew its position in DSP Group, Inc. (NASDAQ:DSPG) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 909,354 shares of the semiconductor company’s stock after purchasing an additional 43,304 shares during the period. Wells Fargo & Company MN owned about 4.00% of DSP Group worth $11,321,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of DSP Group by 3.1% in the first quarter. BlackRock Inc. now owns 3,021,776 shares of the semiconductor company’s stock valued at $35,658,000 after purchasing an additional 91,384 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of DSP Group in the first quarter valued at about $125,000. Principal Financial Group Inc. raised its holdings in shares of DSP Group by 2.4% in the first quarter. Principal Financial Group Inc. now owns 171,103 shares of the semiconductor company’s stock valued at $2,019,000 after purchasing an additional 4,061 shares during the last quarter. Chicago Equity Partners LLC raised its holdings in shares of DSP Group by 160.6% in the first quarter. Chicago Equity Partners LLC now owns 28,670 shares of the semiconductor company’s stock valued at $338,000 after purchasing an additional 17,670 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in DSP Group by 188.0% during the first quarter. JPMorgan Chase & Co. now owns 17,617 shares of the semiconductor company’s stock worth $208,000 after buying an additional 11,500 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.
A number of research firms recently issued reports on DSPG. BidaskClub downgraded shares of DSP Group from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research upgraded shares of DSP Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of DSP Group in a report on Friday, June 29th. Finally, Cowen began coverage on shares of DSP Group in a report on Thursday, May 17th. They set an “outperform” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. DSP Group has a consensus rating of “Buy” and a consensus price target of $15.40.
NASDAQ DSPG traded down $0.05 during trading hours on Friday, reaching $12.35. 100 shares of the company were exchanged, compared to its average volume of 46,821. DSP Group, Inc. has a 1 year low of $11.30 and a 1 year high of $13.95. The company has a market capitalization of $277.12 million, a PE ratio of 72.94, a price-to-earnings-growth ratio of 7.16 and a beta of 0.84.
DSP Group (NASDAQ:DSPG) last posted its quarterly earnings data on Monday, July 30th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. DSP Group had a negative net margin of 1.28% and a positive return on equity of 3.71%. The business had revenue of $30.65 million during the quarter, compared to the consensus estimate of $31.00 million. During the same quarter last year, the company posted $0.06 earnings per share. research analysts predict that DSP Group, Inc. will post 0.12 earnings per share for the current fiscal year.
In related news, Director Cynthia Paul acquired 86,421 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The stock was acquired at an average price of $11.79 per share, for a total transaction of $1,018,903.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 145,403 shares of company stock valued at $1,716,221 in the last 90 days. 5.25% of the stock is currently owned by corporate insiders.
About DSP Group
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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