DSP Group (DSPG) : Ion Asset Management Ltd. scooped up 5,838 additional shares in DSP Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 325,927 shares of DSP Group which is valued at $3,503,715.DSP Group makes up approximately 1.60% of Ion Asset Management Ltd.’s portfolio.
Other Hedge Funds, Including , Harber Asset Management boosted its stake in DSPG in the latest quarter, The investment management firm added 12,066 additional shares and now holds a total of 147,637 shares of DSP Group which is valued at $1,587,098. DSP Group makes up approx 0.80% of Harber Asset Management’s portfolio.Rhumbline Advisers reduced its stake in DSPG by selling 2,541 shares or 6.1% in the most recent quarter. The Hedge Fund company now holds 39,145 shares of DSPG which is valued at $420,809.Vanguard Group Inc boosted its stake in DSPG in the latest quarter, The investment management firm added 88,360 additional shares and now holds a total of 1,074,533 shares of DSP Group which is valued at $11,551,230.
DSP Group opened for trading at $11.63 and hit $11.65 on the upside on Thursday, eventually ending the session at $11.62, with a gain of 0.69% or 0.08 points. The heightened volatility saw the trading volume jump to 46,750 shares. Company has a market cap of $254 M.
On the company’s financial health, DSP Group reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.08. The company had revenue of $36.20 million for the quarter, compared to analysts expectations of $36.00 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.
Many Wall Street Analysts have commented on DSP Group. Company shares were Reiterated by Wunderlich on Sep 6, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .Company shares were Reiterated by Needham on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 12.50 from a previous price target of $11 .
DSP Group Inc. is a global provider of wireless chipset solutions for converged communications. The Company enables original equipment manufacturers (OEMs) original design manufacturers (ODMs) consumer electronics (CE) manufacturers and service providers to develop products. It provides a portfolio of wireless chipsets integrating Digital Enhanced Cordless Telecommunications (DECT); Cordless Advanced Technology – Internet Quality (CAT-iq) Ultra Low Energy (ULE) Wi-Fi video Voice over Internet Protocol (VoIP) Public Switched Telephone Network (PSTN) HDClear (previously BoneTone) noise suppression and voice quality enhancement technologies. It offers wireless voice and data transmission solutions for various applications including mobile handsets. Its three segments include home office and mobile.