Renaissance Technologies LLC lifted its position in DSP Group, Inc. (NASDAQ:DSPG) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,143,494 shares of the semiconductor company’s stock after acquiring an additional 41,200 shares during the period. Renaissance Technologies LLC owned 5.03% of DSP Group worth $16,421,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in DSPG. EAM Global Investors LLC bought a new position in shares of DSP Group in the 1st quarter worth approximately $1,339,000. Delek Group Ltd. bought a new position in shares of DSP Group in the 1st quarter worth approximately $272,000. Kennedy Capital Management Inc. raised its position in shares of DSP Group by 33.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 775,999 shares of the semiconductor company’s stock worth $10,918,000 after acquiring an additional 192,334 shares in the last quarter. Group One Trading L.P. bought a new position in shares of DSP Group in the 1st quarter worth approximately $176,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of DSP Group in the 1st quarter worth approximately $748,000. 78.45% of the stock is owned by hedge funds and other institutional investors.
Shares of DSP Group stock traded up $0.19 during midday trading on Thursday, hitting $15.06. The company had a trading volume of 1,030 shares, compared to its average volume of 80,169. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.79 and a current ratio of 3.19. The stock has a market capitalization of $341.08 million, a P/E ratio of 65.67, a P/E/G ratio of 13.53 and a beta of 0.78. The company has a 50 day moving average of $14.22 and a 200 day moving average of $14.30. DSP Group, Inc. has a 52-week low of $10.15 and a 52-week high of $16.30.
In related news, CFO Dror Levy sold 17,171 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $14.69, for a total value of $252,241.99. Following the sale, the chief financial officer now owns 188,171 shares in the company, valued at approximately $2,764,231.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.
Several brokerages have recently issued reports on DSPG. ValuEngine raised DSP Group from a “hold” rating to a “buy” rating in a research report on Monday. Needham & Company LLC set a $18.00 price target on DSP Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded DSP Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, BidaskClub upgraded DSP Group from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $18.25.
DSP Group Company Profile
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.
See Also: Hedge Funds – Risk or Reward?
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