Notable Price Action: What’s DSP Group, Inc. Upside After Achieving 52-Week High?

Notable Price Action: What's DSP Group, Inc. Upside After Achieving 52 Week High?

The stock of DSP Group, Inc. (NASDAQ:DSPG) hit a new 52-week high and has $28.07 target or 131.00% above today’s $12.15 share price. The 9 months bullish chart indicates low risk for the $264.90M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $28.07 price target is reached, the company will be worth $347.02M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 47,418 shares traded hands. DSP Group, Inc. (NASDAQ:DSPG) has risen 34.89% since April 15, 2016 and is uptrending. It has outperformed by 30.27% the S&P500.

DSP Group, Inc. (NASDAQ:DSPG) Ratings Coverage

Out of 3 analysts covering DSP Group (NASDAQ:DSPG), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $14 is the highest target while $10 is the lowest. The $13.50 average target is 11.11% above today’s ($12.15) stock price. DSP Group has been the topic of 7 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Wunderlich maintained the shares of DSPG in a report on Friday, July 31 with “Buy” rating. Needham maintained the shares of DSPG in a report on Friday, July 31 with “Buy” rating. The rating was maintained by Needham on Tuesday, August 2 with “Buy”. Roth Capital initiated DSP Group, Inc. (NASDAQ:DSPG) on Thursday, September 1 with “Buy” rating. The stock of DSP Group, Inc. (NASDAQ:DSPG) earned “Buy” rating by TheStreet on Tuesday, August 18. Needham maintained DSP Group, Inc. (NASDAQ:DSPG) rating on Wednesday, February 3. Needham has “Buy” rating and $10 price target. Wunderlich maintained DSP Group, Inc. (NASDAQ:DSPG) on Tuesday, September 6 with “Buy” rating.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.23, from 1.06 in 2016Q1. The ratio dived, as 5 funds sold all DSP Group, Inc. shares owned while 35 reduced positions. 11 funds bought stakes while 22 increased positions. They now own 16.64 million shares or 1.70% less from 16.93 million shares in 2016Q1.
Pinebridge Invs Ltd Partnership accumulated 2,543 shares or 0% of the stock. Perritt Cap Management Incorporated has 484,200 shares for 1.35% of their US portfolio. The Pennsylvania-based Vanguard Grp has invested 0% in DSP Group, Inc. (NASDAQ:DSPG). Panagora Asset Mngmt Inc, a Massachusetts-based fund reported 91,122 shares. Moreover, State Of Tennessee Treasury Department has 0% invested in DSP Group, Inc. (NASDAQ:DSPG) for 16,898 shares. State Street Corp has invested 0% of its portfolio in DSP Group, Inc. (NASDAQ:DSPG). Roumell Asset Mgmt Lc, a Maryland-based fund reported 323,546 shares. The California-based Blackrock Institutional Tru Na has invested 0% in DSP Group, Inc. (NASDAQ:DSPG). Nationwide Fund Advsrs has 0% invested in the company for 14,369 shares. Kennedy Mgmt holds 0.04% of its portfolio in DSP Group, Inc. (NASDAQ:DSPG) for 201,139 shares. Harber Asset Management Ltd Liability Corp last reported 0.87% of its portfolio in the stock. Prudential owns 58,247 shares or 0% of their US portfolio. Comml Bank Of America De accumulated 0% or 656 shares. Ion Asset Mgmt Limited has 206,428 shares for 1.03% of their US portfolio. Pub Sector Pension Invest Board owns 15,190 shares or 0% of their US portfolio.

Insider Transactions: Since August 10, 2016, the stock had 0 buys, and 3 insider sales for $793,689 net activity. Another trade for 45,000 shares valued at $539,295 was made by Elyakim Ofer on Wednesday, August 24. Levy Dror sold $139,904 worth of stock.

More news for DSP Group, Inc. (NASDAQ:DSPG) were recently published by: Marketwatch.com, which released: “/quotes/zigman/3870025/realtime” on March 29, 2011. Globenewswire.com‘s article titled: “DSP Group Inc.’s Third Quarter 2016 Earnings Release and Conference Call” and published on October 17, 2016 is yet another important article.

DSPG Company Profile

DSP Group, Inc., incorporated on October 23, 1993, is a well-known provider of wireless chipset solutions for converged communications. The Firm delivers semiconductor system solutions with software and hardware reference creates and enables original equipment manufacturers (OEMs), original design manufacturers (ODMs), consumer electronics (CE) manufacturers and service providers to develop products. The Firm operates through three divisions: Home, Office and Mobile. It provides a portfolio of wireless chipsets integrating Digital Enhanced Cordless Telecommunications (DECT), Cordless Advanced Technology-Internet Quality (CAT-iq), Ultra Low Energy (ULE), Wireless Fidelity (Wi-Fi), Public Switched Telephone Network (PSTN), HDClear, video and Voice over Internet Protocol (VoIP) technologies. The Firm enables converged voice, audio and data connectivity across mobile, consumer and enterprise products, including connected multimedia terminals, mobile and wearable devices, home automation and security, cordless phones, VoIP systems and home gateways. It offers wireless voice and data transmission solutions for various applications, including mobile handsets. The Company’s technologies include Direct Sequence Spread Spectrum (DSSS), Frequency Hopping Spread Spectrum (FHSS), Orthogonal Frequency Digital Modulation (OFDM), Digital Narrow Band, Complementary Metal Oxide Semiconductor (CMOS), Gallium Arsenide (GaAs) technology and Silicon Germanium (SiGe) radio frequency (RF) chips. It offers systems-on-a-chip (SoC) and solution for VoIP, home, small office/home office (SoHo) and office IP phones.

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