Perritt Capital Management Inc buys $5,816,400 stake in DSP Group (DSPG)

DSP Group (DSPG) : Perritt Capital Management Inc scooped up 500 additional shares in DSP Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 484,700 shares of DSP Group which is valued at $5,816,400.DSP Group makes up approximately 1.45% of Perritt Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp boosted its stake in DSPG in the latest quarter, The investment management firm added 14,200 additional shares and now holds a total of 64,343 shares of DSP Group which is valued at $772,116.Dimensional Fund Advisors Lp reduced its stake in DSPG by selling 2,249 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 1,859,020 shares of DSPG which is valued at $20,913,975. DSP Group makes up approx 0.01% of Dimensional Fund Advisors Lp’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in DSPG in the latest quarter, The investment management firm added 1,129 additional shares and now holds a total of 723,203 shares of DSP Group which is valued at $7,919,073.Tygh Capital Management reduced its stake in DSPG by selling 70,910 shares or 36.02% in the most recent quarter. The Hedge Fund company now holds 125,949 shares of DSPG which is valued at $1,335,059. DSP Group makes up approx 0.38% of Tygh Capital Management’s portfolio.

DSP Group opened for trading at $12.15 and hit $12.5 on the upside on Monday, eventually ending the session at $12.4, with a gain of 2.06% or 0.25 points. The heightened volatility saw the trading volume jump to 69,848 shares. Company has a market cap of $268 M.

On the company’s financial health, DSP Group reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Oct 31, 2016. Analyst had a consensus of $0.14. The company had revenue of $38.80 million for the quarter, compared to analysts expectations of $38.49 million. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 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 .

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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