Roumell Asset Management buys $3.1 Million stake in DSP Group (DSPG)

DSP Group (DSPG) : Roumell Asset Management scooped up 24,835 additional shares in DSP Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 331,186 shares of DSP Group which is valued at $3.1 Million.DSP Group makes up approximately 7.73% of Roumell Asset Management’s portfolio.

Other Hedge Funds, Including , Penserra Capital Management boosted its stake in DSPG in the latest quarter, The investment management firm added 747 additional shares and now holds a total of 2,368 shares of DSP Group which is valued at $22,070.Blackrock Fund Advisors boosted its stake in DSPG in the latest quarter, The investment management firm added 28,804 additional shares and now holds a total of 1,434,586 shares of DSP Group which is valued at $13.4 Million.Blackrock Institutional Trust Company N.a. reduced its stake in DSPG by selling 3,778 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 718,612 shares of DSPG which is valued at $6.7 Million.

DSP Group opened for trading at $10.15 and hit $10.2 on the upside on Wednesday, eventually ending the session at $10.16, with a gain of 0.20% or 0.02 points. The heightened volatility saw the trading volume jump to 23,214 shares. Company has a market cap of $221 M.

On the company’s financial health, DSP Group reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $-0.11. The company had revenue of $27.66 million for the quarter, compared to analysts expectations of $27.02 million. The company’s revenue was down -27.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on DSP Group. Company shares were Reiterated by Needham on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Lake Street Initiated DSP Group on Feb 17, 2016 to “Buy”, Price Target of the shares are set at $10.

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.

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