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DSP Group

Nasdaq:DSPG
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DSPG
Nasdaq
$337M
Market Cap
  1. Home
  2. US
  3. Semiconductors
Company description

DSP Group, Inc., a fabless semiconductor company, provides wireless and audio chipset solutions for converged communications. The last earnings update was 68 days ago. More info.


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DSPG Share Price and Events
7 Day Returns
6.6%
NasdaqGS:DSPG
2.8%
US Semiconductor
0.6%
US Market
1 Year Returns
15.4%
NasdaqGS:DSPG
2.2%
US Semiconductor
4.1%
US Market
DSPG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DSP Group (DSPG) 6.6% 5.3% -0.2% 15.4% 39.9% 72.2%
US Semiconductor 2.8% 10.2% -5.6% 2.2% 75.9% 88.1%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • DSPG outperformed the Semiconductor industry which returned 2.2% over the past year.
  • DSPG outperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
DSPG
Industry
5yr Volatility vs Market
Related Companies

DSPG Value

 Is DSP Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of DSP Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for DSP Group.

NasdaqGS:DSPG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:DSPG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.271 (1 + (1- 21%) (3.65%))
1.206
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.21
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.206 * 5.96%)
9.92%

Discounted Cash Flow Calculation for NasdaqGS:DSPG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for DSP Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:DSPG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.92%)
2020 6.58 Est @ -4.77% 5.98
2021 6.41 Est @ -2.52% 5.31
2022 6.35 Est @ -0.94% 4.78
2023 6.36 Est @ 0.16% 4.36
2024 6.42 Est @ 0.93% 4.00
2025 6.51 Est @ 1.47% 3.69
2026 6.64 Est @ 1.85% 3.42
2027 6.78 Est @ 2.11% 3.18
2028 6.93 Est @ 2.3% 2.96
2029 7.10 Est @ 2.43% 2.76
Present value of next 10 years cash flows $40.45
NasdaqGS:DSPG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $7.10 × (1 + 2.73%) ÷ (9.92% – 2.73%)
$101.46
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $101.46 ÷ (1 + 9.92%)10
$39.41
NasdaqGS:DSPG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $40.45 + $39.41
$79.86
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $79.86 / 22.71
$3.52
NasdaqGS:DSPG Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.52
Current discount Discount to share price of $14.83
= -1 x ($14.83 - $3.52) / $3.52
-321.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of DSP Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for DSP Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DSP Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:DSPG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.06
NasdaqGS:DSPG Share Price ** NasdaqGS (2019-07-17) in USD $14.83
United States of America Semiconductor Industry PE Ratio Median Figure of 68 Publicly-Listed Semiconductor Companies 22.27x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of DSP Group.

NasdaqGS:DSPG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:DSPG Share Price ÷ EPS (both in USD)

= 14.83 ÷ -0.06

-262.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DSP Group is loss making, we can't compare its value to the US Semiconductor industry average.
  • DSP Group is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does DSP Group's expected growth come at a high price?
Raw Data
NasdaqGS:DSPG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -262.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
145.6%per year
United States of America Semiconductor Industry PEG Ratio Median Figure of 63 Publicly-Listed Semiconductor Companies 1.05x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for DSP Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on DSP Group's assets?
Raw Data
NasdaqGS:DSPG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $6.41
NasdaqGS:DSPG Share Price * NasdaqGS (2019-07-17) in USD $14.83
United States of America Semiconductor Industry PB Ratio Median Figure of 107 Publicly-Listed Semiconductor Companies 2.62x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NasdaqGS:DSPG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:DSPG Share Price ÷ Book Value per Share (both in USD)

= 14.83 ÷ 6.41

2.32x

* Primary Listing of DSP Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DSP Group is good value based on assets compared to the US Semiconductor industry average.
X
Value checks
We assess DSP Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. DSP Group has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

DSPG Future Performance

 How is DSP Group expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
145.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DSP Group expected to grow at an attractive rate?
  • DSP Group's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • DSP Group's earnings growth is expected to exceed the United States of America market average.
  • DSP Group's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:DSPG Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:DSPG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 145.6%
NasdaqGS:DSPG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 8.5%
United States of America Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
United States of America Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 7.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:DSPG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:DSPG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 134 11 4 5
2019-12-31 122 -6 -3 5
NasdaqGS:DSPG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 118 9 -1
2018-12-31 117 9 -2
2018-09-30 123 9 -2
2018-06-30 124 7 -2
2018-03-31 125 9 -2
2017-12-31 125 9 -3
2017-09-30 129 12 -2
2017-06-30 133 15 3
2017-03-31 138 17 5
2016-12-31 138 17 5
2016-09-30 136 14 3
2016-06-30 133 15 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • DSP Group's earnings are expected to grow significantly at over 20% yearly.
  • DSP Group's revenue is expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:DSPG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from DSP Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:DSPG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.15 0.44 -0.08 3.00
2019-12-31 -0.13 -0.05 -0.21 2.00
NasdaqGS:DSPG Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.06
2018-12-31 -0.09
2018-09-30 -0.08
2018-06-30 -0.07
2018-03-31 -0.08
2017-12-31 -0.14
2017-09-30 -0.07
2017-06-30 0.15
2017-03-31 0.22
2016-12-31 0.22
2016-09-30 0.16
2016-06-30 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if DSP Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess DSP Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
DSP Group has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

DSPG Past Performance

  How has DSP Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare DSP Group's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • DSP Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare DSP Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare DSP Group's 1-year growth to the US Semiconductor industry average as it is not currently profitable.
Earnings and Revenue History
DSP Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from DSP Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:DSPG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 117.60 -1.27 25.67 36.03
2018-12-31 117.44 -1.96 25.28 36.11
2018-09-30 122.62 -1.77 25.20 36.59
2018-06-30 124.28 -1.59 25.32 36.19
2018-03-31 124.93 -1.89 24.69 36.46
2017-12-31 124.75 -3.00 24.10 36.66
2017-09-30 128.79 -1.56 23.90 36.02
2017-06-30 133.28 3.19 23.46 35.31
2017-03-31 138.14 4.86 23.26 35.19
2016-12-31 137.87 4.81 22.87 34.89
2016-09-30 136.36 3.39 22.44 35.23
2016-06-30 132.81 -1.77 22.23 35.44
2016-03-31 133.90 -2.12 22.07 35.26
2015-12-31 144.27 1.56 21.98 35.48
2015-09-30 147.66 4.40 22.08 35.84
2015-06-30 149.16 5.01 22.07 35.21
2015-03-31 148.19 5.36 22.23 34.38
2014-12-31 143.04 3.60 22.45 33.47
2014-09-30 141.22 1.23 22.41 32.83
2014-06-30 139.88 0.85 22.28 32.90
2014-03-31 144.30 0.52 23.22 34.05
2013-12-31 151.06 2.68 23.09 35.00
2013-09-30 154.15 2.18 22.96 35.99
2013-06-30 155.44 -0.63 23.44 37.48
2013-03-31 158.94 -3.61 23.49 39.71
2012-12-31 162.79 -8.04 24.88 42.54
2012-09-30 162.56 -12.72 26.57 45.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if DSP Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if DSP Group has efficiently used its assets last year compared to the US Semiconductor industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if DSP Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess DSP Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
DSP Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

DSPG Health

 How is DSP Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up DSP Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • DSP Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • DSP Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of DSP Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • DSP Group has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from DSP Group Company Filings, last reported 3 months ago.

NasdaqGS:DSPG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 145.41 0.00 42.53
2018-12-31 141.87 0.00 48.09
2018-09-30 142.37 0.00 45.77
2018-06-30 143.11 0.00 46.83
2018-03-31 146.25 0.00 46.60
2017-12-31 146.95 0.00 46.27
2017-09-30 145.75 0.00 42.81
2017-06-30 144.12 0.00 51.34
2017-03-31 144.46 0.00 51.49
2016-12-31 145.55 0.00 47.09
2016-09-30 147.98 0.00 39.34
2016-06-30 142.39 0.00 40.59
2016-03-31 141.13 0.00 29.06
2015-12-31 143.32 0.00 32.03
2015-09-30 144.62 0.00 30.19
2015-06-30 147.08 0.00 27.71
2015-03-31 149.47 0.00 24.85
2014-12-31 146.62 0.00 32.26
2014-09-30 141.63 0.00 23.78
2014-06-30 144.01 0.00 28.19
2014-03-31 143.73 0.00 27.92
2013-12-31 147.41 0.00 37.67
2013-09-30 149.58 0.00 33.94
2013-06-30 146.61 0.00 35.20
2013-03-31 145.73 0.00 36.95
2012-12-31 142.23 0.00 42.30
2012-09-30 141.92 0.00 40.21
  • DSP Group has no debt.
  • DSP Group has not taken on any debt in the past 5 years.
  • DSP Group has no debt, it does not need to be covered by operating cash flow.
  • DSP Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess DSP Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. DSP Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

DSPG Dividends

 What is DSP Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from DSP Group dividends.
If you bought $2,000 of DSP Group shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate DSP Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate DSP Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:DSPG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:DSPG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as DSP Group has not reported any payouts.
  • Unable to verify if DSP Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of DSP Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as DSP Group has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess DSP Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can DSP Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DSP Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

DSPG Management

 What is the CEO of DSP Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ofer Elyakim
COMPENSATION $1,369,988
AGE 49
TENURE AS CEO 10 years
CEO Bio

Mr. Ofer Elyakim has been the Chief Executive Officer at DSP Group Inc. since July 2009. Mr. Elyakim served as President of South East Asia Operations and Senior Vice President at DSP Group Inc. from May 1, 2008 to July 2009. Mr. Elyakim joined DSP Group in January 2006 and served as its Director of Investor Relations & Business Development and also served as its Vice President of Business Development since May 2007. Previously, Mr. Elyakim served as a Research Analyst covering media and broadcasting companies at CIBC World Markets in New York. Prior to that, Mr. Elyakim served several management positions at Radvision, Tundo Communications and Kost Forer Gabbay & Kasierer, a Member of Ernst & Young Global. Mr. Elyakim has been a Director of DSP Group Inc. since May 20, 2011. Mr. Elyakim is a Certified Public Accountant. Mr. Elyakim holds an MBA with honors from Columbia Business School and a BA degree in Computer Science and Accounting from Tel Aviv University.

CEO Compensation
  • Ofer's compensation has increased whilst company is loss making.
  • Ofer's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the DSP Group management team in years:

7.5
Average Tenure
49
Average Age
  • The average tenure for the DSP Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Ofer Elyakim

TITLE
CEO & Director
COMPENSATION
$1M
AGE
49
TENURE
10 yrs

Dror Levy

TITLE
CFO & Secretary
COMPENSATION
$729K
AGE
46
TENURE
13 yrs

Dima Friedman

TITLE
Corporate Vice President of Operations

Lior Blanka

TITLE
CTO & Corporate VP
COMPENSATION
$411K
AGE
59
TENURE
9 yrs

Tali Chen

TITLE
Chief Marketing Officer
TENURE
0.5 yrs

Alex Sin

TITLE
Corporate Vice President of Sales

Naama Luquer-Hareli

TITLE
Corporate Vice President of Human Resources
TENURE
1.5 yrs

Eric Stauffer

TITLE
Chief Revenue Officer
TENURE
0.7 yrs

Ran Klier

TITLE
Corporate Vice President of Sales
TENURE
7.5 yrs
Board of Directors Tenure

Average tenure and age of the DSP Group board of directors in years:

6.2
Average Tenure
55
Average Age
  • The tenure for the DSP Group board of directors is about average.
Board of Directors

Ken Traub

TITLE
Chairman of the Board
COMPENSATION
$150K
AGE
57
TENURE
2.2 yrs

Ofer Elyakim

TITLE
CEO & Director
COMPENSATION
$1M
AGE
49
TENURE
8.2 yrs

Tom Lacey

TITLE
Independent Director
COMPENSATION
$145K
AGE
60
TENURE
7.2 yrs

Gabi Seligsohn

TITLE
Independent Director
COMPENSATION
$134K
AGE
53
TENURE
6.2 yrs

Yair Seroussi

TITLE
Independent Director
COMPENSATION
$144K
AGE
64
TENURE
17.4 yrs

Norm Taffe

TITLE
Independent Director
COMPENSATION
$136K
AGE
53
TENURE
6.2 yrs

Cynthia Paul

TITLE
Director
COMPENSATION
$93K
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Jul 19 Sell Raging Capital Management, LLC Company 25. Jun 19 28. Jun 19 -562,906 $14.41 $-8,068,606
25. Jun 19 Sell Raging Capital Management, LLC Company 12. Jun 19 24. Jun 19 -333,565 $14.65 $-4,789,659
11. Jun 19 Sell Raging Capital Management, LLC Company 10. Apr 19 11. Jun 19 -336,679 $14.85 $-4,834,291
21. Nov 18 Buy Thomas Lacey Individual 20. Nov 18 20. Nov 18 4,000 $11.40 $45,600
X
Management checks
We assess DSP Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. DSP Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

DSPG News

Simply Wall St News

Should You Be Pleased About The CEO Pay At DSP Group, Inc.'s (NASDAQ:DSPG)

See our latest analysis for DSP Group How Does Ofer Elyakim's Compensation Compare With Similar Sized Companies? … We examined companies with market caps from US$200m to US$800m, and discovered that the median CEO total compensation of that group was US$1.8m. … So we think most shareholders wouldn't be too worried about CEO compensation, which is close to the median for similar sized companies.

Simply Wall St -

How Many DSP Group, Inc. (NASDAQ:DSPG) Shares Do Institutions Own?

DSP Group is a smaller company with a market capitalization of US$319m, so it may still be flying under the radar of many institutional investors. … Insider Ownership Of DSP Group The definition of company insiders can be subjective, and does vary between jurisdictions. … However, high insider ownership can also give immense power to a small group within the company.

Simply Wall St -

Investors Who Bought DSP Group (NASDAQ:DSPG) Shares Five Years Ago Are Now Up 69%

Because DSP Group is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … Shareholders of unprofitable companies usually expect strong revenue growth. … As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

Simply Wall St -

How Much Of DSP Group, Inc. (NASDAQ:DSPG) Do Institutions Own?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Our Take On DSP Group, Inc.'s (NASDAQ:DSPG) CEO Salary

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Take the survey and be part of one of the most advanced studies of stock market investors to date … How Does Ofer Elyakim's Compensation Compare With Similar Sized Companies?

Simply Wall St -

How Much Are DSP Group, Inc. (NASDAQ:DSPG) Insiders Spending On Buying Shares?

It is not uncommon to see companies perform well in the years after insiders buy shares. … Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … The Last 12 Months Of Insider Transactions At DSP Group.

Simply Wall St -

Is DSP Group Inc's (NASDAQ:DSPG) Balance Sheet A Threat To Its Future?

The direct benefit for DSP Group Inc (NASDAQ:DSPG), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … However, the trade-off is DSPG will have to adhere to stricter debt covenants and have less financial flexibility. … Is DSPG right in choosing financial flexibility over lower cost of capital.

Simply Wall St -

DSP Group Inc (NASDAQ:DSPG): Should The Recent Earnings Drop Worry You?

For long-term investors, assessing earnings trend over time and against industry benchmarks is more beneficial than examining a single earnings announcement at a point in time. … DSPG is loss-making, with the most recent trailing twelve-month earnings of -US$2m (from 30 September 2018), which compared to last year has become. … Furthermore, the company's loss seem to be growing over time, with the five-year earnings average of -US$1m

Simply Wall St -

DSP Group Inc (NASDAQ:DSPG): How Does It Impact Your Portfolio?

The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … Not all stocks are expose to the same level of market risk. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one.

Simply Wall St -

What does DSP Group Inc's (NASDAQ:DSPG) Balance Sheet Tell Us About Its Future?

The direct benefit for DSP Group Inc (NASDAQ:DSPG), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … Does DSPG's growth rate justify its decision for financial flexibility over lower cost of capital … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital.

Simply Wall St -

DSPG Company Info

Description

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. It also enables converged voice, audio, video, and data connectivity across various mobile, consumer, and enterprise products, including mobile phones, Internet of Things and wearable devices, connected multimedia screens, home automation and security, cordless phones, VoIP systems, and home gateways. The company operates in the United States, Hong Kong, Japan, Europe, China, Taiwan, Korea, and internationally. It sells its products primarily through distributors, as well as directly to original equipment manufacturers and original design manufacturers. DSP Group, Inc. was founded in 1979 and is headquartered in San Jose, California.

Details
Name: DSP Group, Inc.
DSPG
Exchange: NasdaqGS
Founded: 1979
$336,862,204
22,714,916
Website: http://www.dspg.com
Address: DSP Group, Inc.
2055 Gateway Place,
Suite 480,
San Jose,
California, 95110,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS DSPG Common Stock Nasdaq Global Select US USD 11. Feb 1994
DB DP3 Common Stock Deutsche Boerse AG DE EUR 11. Feb 1994
Number of employees
Current staff
Staff numbers
324
DSP Group employees.
Industry
Semiconductors
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 23:35
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/06/07
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.