The Manufacturers Life Insurance Company raised its holdings in DSP Group, Inc. (NASDAQ:DSPG) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,520 shares of the semiconductor company’s stock after purchasing an additional 1,688 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of DSP Group worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. ETF Managers Group LLC purchased a new stake in DSP Group in the 2nd quarter valued at approximately $117,000. Arizona State Retirement System boosted its holdings in DSP Group by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 11,515 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 200 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in DSP Group by 20.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 13,530 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 2,280 shares in the last quarter. Voya Investment Management LLC boosted its holdings in DSP Group by 16.1% in the 2nd quarter. Voya Investment Management LLC now owns 15,013 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 2,082 shares in the last quarter. Finally, Texas Permanent School Fund boosted its holdings in DSP Group by 3.4% in the 2nd quarter. Texas Permanent School Fund now owns 16,186 shares of the semiconductor company’s stock valued at $188,000 after purchasing an additional 532 shares in the last quarter. 74.80% of the stock is currently owned by institutional investors.

Shares of DSP Group, Inc. (DSPG) opened at $13.00 on Friday. The company has a market capitalization of $295.78, a P/E ratio of 73.61 and a beta of 0.86. DSP Group, Inc. has a 52 week low of $9.80 and a 52 week high of $14.20.

DSP Group (NASDAQ:DSPG) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The business had revenue of $34.30 million for the quarter, compared to analyst estimates of $34.00 million. DSP Group had a positive return on equity of 2.93% and a negative net margin of 1.21%. The company’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. analysts anticipate that DSP Group, Inc. will post -0.05 earnings per share for the current year.

DSP Group declared that its Board of Directors has initiated a stock buyback program on Monday, August 14th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, CEO Ofer Elyakim sold 26,261 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $12.81, for a total transaction of $336,403.41. Following the sale, the chief executive officer now owns 573,252 shares of the company’s stock, valued at approximately $7,343,358.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dror Levy sold 4,060 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $12.85, for a total value of $52,171.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,321 shares of company stock worth $545,774 in the last three months. Corporate insiders own 5.18% of the company’s stock.

A number of brokerages have weighed in on DSPG. Canaccord Genuity reaffirmed a “buy” rating and issued a $16.00 price objective on shares of DSP Group in a report on Thursday, November 2nd. Zacks Investment Research raised DSP Group from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. TheStreet lowered DSP Group from a “b-” rating to a “c+” rating in a report on Wednesday, November 8th. Finally, BidaskClub raised DSP Group from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.60.

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DSP Group Profile

DSP Group, Inc is a global provider of wireless and audio chipset solutions for converged communications. Delivering semiconductor system solutions with software and hardware reference designs, the Company enables original equipment manufacturers, original design manufacturers, consumer electronics manufacturers and service providers to develop new products.

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Institutional Ownership by Quarter for DSP Group (NASDAQ:DSPG)

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