In a report released today, Rajvindra Gill from Needham maintained a Buy rating on DSP Group (NASDAQ: DSPG), with a price target of $15. The company’s shares closed yesterday at $12.45.
Gill observed:
“DSP issued a press release indicating its low-power voice processor (DBMD5) was recently qualified on the Alexa ecosystem. Kit is now available for Amazon Voice Services (AVS), which enables developers to integrate voice directly into their products. While late to the game, with this announcement, DSP joins other voice processors from companies such as to become a qualified voice processor supplier. While no specific customers have been announced, we anticipate this qualification will significantly expand DSP’s TAM and should see design wins announced in the 2H18 and revenue in 2019.”
According to TipRanks.com, Gill is a top 100 analyst with an average return of 20.6% and a 66.1% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.
DSP Group has an analyst consensus of Moderate Buy, with a price target consensus of $15.
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Based on DSP Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.75 million. In comparison, last year the company had a GAAP net loss of $586K.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DSPG in relation to earlier this year. Earlier this month, Patrick Tanguy, a Director at DSPG sold 15,000 shares for a total of $180,000.
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DSP Group, Inc. engages in the provision of wireless chipset solutions for converged communications. It operates through the following segments: Home, Office, and SmartVoice. The Home segment offers wireless chipset solutions at home. The Office segment comprises of portfolio solutions for VoIP terminals.
