Arizona State Retirement System cut its stake in DSP Group, Inc. (NASDAQ:DSPG) by 14.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,319 shares of the semiconductor company’s stock after selling 4,680 shares during the period. Arizona State Retirement System owned approximately 0.13% of DSP Group worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of DSPG. JPMorgan Chase & Co. lifted its holdings in shares of DSP Group by 188.0% in the first quarter. JPMorgan Chase & Co. now owns 17,617 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 11,500 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of DSP Group by 2.4% in the first quarter. Principal Financial Group Inc. now owns 171,103 shares of the semiconductor company’s stock valued at $2,019,000 after buying an additional 4,061 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of DSP Group in the second quarter valued at approximately $127,000. Acadian Asset Management LLC acquired a new position in shares of DSP Group in the second quarter valued at approximately $256,000. Finally, Wells Fargo & Company MN increased its stake in shares of DSP Group by 5.0% in the second quarter. Wells Fargo & Company MN now owns 909,354 shares of the semiconductor company’s stock valued at $11,321,000 after buying an additional 43,304 shares during the period. Institutional investors and hedge funds own 82.21% of the company’s stock.

Several research analysts have recently issued reports on the company. BidaskClub raised DSP Group from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. ValuEngine raised DSP Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $15.25.

In other news, Director Thomas A. Lacey bought 4,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $11.40 per share, with a total value of $45,600.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cynthia Paul bought 12,309 shares of the firm’s stock in a transaction on Friday, October 12th. The shares were purchased at an average cost of $11.28 per share, with a total value of $138,845.52. The disclosure for this purchase can be found here. Insiders have acquired a total of 28,721 shares of company stock valued at $326,396 in the last three months. Insiders own 5.25% of the company’s stock.

Shares of DSP Group stock traded down $0.34 on Friday, hitting $11.51. The stock had a trading volume of 68,425 shares, compared to its average volume of 50,000. DSP Group, Inc. has a twelve month low of $10.15 and a twelve month high of $13.45. The company has a market capitalization of $263.03 million, a P/E ratio of 67.71 and a beta of 0.60.

DSP Group (NASDAQ:DSPG) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $32.62 million during the quarter, compared to the consensus estimate of $33.00 million. DSP Group had a negative net margin of 1.44% and a positive return on equity of 3.96%. As a group, equities research analysts predict that DSP Group, Inc. will post -0.06 EPS for the current fiscal year.

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DSP Group Profile

DSP Group, Inc, a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications worldwide. 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.

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

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