DSP Group Receives a Rating Update from a Top Analyst

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 opened today at $11.70.

Gill observed:

“For the first time, new products (VoIP , smart home, smart voice) accounted for 50% of sales and grew 22% Y/Y. While there’s clearly lumpiness in both the Smart Home and Smart Voice segments, the underlying trends are positive – the demand for voice in smartphones and other devices is growing and ULE is becoming an alternative connectivity standard for niche segments within European. The benefit that comes with the new products surpassing legacy is the higher gross margin profile. GMs have improved 190bps Y/Y to 48.5%. Maintain Buy, $15 PT .”

According to TipRanks.com, Gill is a top 100 analyst with an average return of 19.9% and a 62.5% 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 Hold.

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The company has a one-year high of $13.95 and a one-year low of $10.80. Currently, DSP Group has an average volume of 44.16K.

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DSP Group, Inc. engages in the provision of wireless chipset solutions for converged communications. It operates through three segments: Home, Office, and Mobile. The Home segment offers wireless chipset solutions for converged communication at home.