DSP Group (NASDAQ:DSPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors, portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. “

A number of other equities analysts have also recently issued reports on the company. Cowen increased their target price on DSP Group from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday. BidaskClub cut DSP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Needham & Company LLC set a $18.00 price objective on DSP Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, ValuEngine cut DSP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. DSP Group presently has a consensus rating of “Buy” and an average price target of $18.00.

Shares of DSPG traded up $0.19 during trading hours on Wednesday, reaching $15.54. The stock had a trading volume of 187,000 shares, compared to its average volume of 127,104. DSP Group has a 12 month low of $10.54 and a 12 month high of $16.30. The firm has a 50-day simple moving average of $14.44 and a 200 day simple moving average of $14.38. The company has a current ratio of 3.47, a quick ratio of 2.79 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $356.43 million, a price-to-earnings ratio of 67.57, a P/E/G ratio of 14.14 and a beta of 0.77.

DSP Group (NASDAQ:DSPG) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. DSP Group had a positive return on equity of 4.40% and a negative net margin of 1.24%. The company had revenue of $31.04 million for the quarter, compared to analysts’ expectations of $31.00 million. On average, equities analysts forecast that DSP Group will post 0.07 EPS for the current year.

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in DSP Group by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,143,494 shares of the semiconductor company’s stock valued at $16,421,000 after acquiring an additional 41,200 shares in the last quarter. Heartland Advisors Inc. lifted its stake in DSP Group by 2,729.4% during the 2nd quarter. Heartland Advisors Inc. now owns 293,970 shares of the semiconductor company’s stock valued at $4,221,000 after acquiring an additional 283,580 shares in the last quarter. BlackRock Inc. lifted its stake in DSP Group by 57.3% during the 2nd quarter. BlackRock Inc. now owns 3,154,232 shares of the semiconductor company’s stock valued at $45,296,000 after acquiring an additional 1,148,366 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in DSP Group by 17.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 155,647 shares of the semiconductor company’s stock valued at $2,192,000 after acquiring an additional 23,272 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in DSP Group by 47.7% during the 2nd quarter. Bank of America Corp DE now owns 45,982 shares of the semiconductor company’s stock valued at $660,000 after acquiring an additional 14,850 shares in the last quarter. Institutional investors and hedge funds own 78.21% of the company’s stock.

About DSP Group

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications. It operates through three segments: Home, Office, and SmartVoice. The company provides a portfolio of wireless chipsets that integrate DECT/CAT-iq, ULE, Wi-Fi, PSTN, HDClear, video, and VoIP technologies.

Further Reading: Net Income

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