DSP Group (DSPG) is Reiterated by Needham to Buy, Raises Price Target to $ 12.50

DSP Group (DSPG) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 12.50 from a previous price target of $11 . Needham advised their investors in a research report released on Aug 2, 2016.

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.

DSP Group opened for trading at $10.46 and hit $10.88 on the upside on Friday, eventually ending the session at $10.83, with a gain of 3.04% or 0.32 points. The heightened volatility saw the trading volume jump to 1,03,783 shares. Company has a market cap of $235 M.

In a different news, on May 12, 2016, Ofer Elyakim (CEO) sold 200 shares at $9.55 per share price. According to the SEC, on May 3, 2016, Dror Levy (VP and CFO) sold 9,430 shares at $9.45 per share price. On Feb 12, 2016, David Dahan (VP and COO) sold 7,753 shares at $8.27 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

DSP Group

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