Oppenheimer Reiterates Perform Rating on DSP Group
In a report published Wednesday, Oppenheimer reiterated its Perform rating on DSP Group (NASDAQ: DSPG).
Oppenheimer noted, “Last week's announcement from Audience Inc. as well as a timely visit from DSPG CEO, Ofer Elyakim, gave us an opportunity to update our view of DSP Group. While we have long taken the view that while DSPG has a compelling valuation, structural changes in its markets afford us time to sit on the sideline and wait as the company works to develop new products. One of those new product markets was in the news last week: voice enhancement/noise elimination. Audience, a leader in this space, recently announced its major customer, Apple, is expected to no longer be one. We believe this negative announcement is a positive for DSPG.”
DSP Group closed on Tuesday at $5.98.
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Tags: Oppenheimer Holdings