DSP Group Repurchases 995,000 Shares
SANTA CLARA, Calif., Nov. 27 /PRNewswire-FirstCall/ -- DSP Group, Inc. (Nasdaq: DSPG), a worldwide leader in developing and providing chip-set solutions for residential wireless connectivity, announced today that it had repurchased 995,000 shares of its Common Stock during the past five weeks, at an average price of $21.49 per share, for an aggregate price of approximately $21.4 million.
After giving effect to the most recent repurchases, approximately 0.8 million shares of the Company's Common Stock remain authorized for repurchase under the current repurchase program approved by the Company's board of directors.
Under the repurchase program, share purchases may be made from time to time depending on market conditions, share price, trading volume, the Company's cash needs and other business factors, and such purchases will be made in accordance with the requirements of the Securities and Exchange Commission.
About DSP Group
DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors (DSPs), portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. These applications include ISM band digital 900MHz, 2.4GHz and 5.8GHz telephony, European DECT (1.9GHz) telephony, Bluetooth systems for voice, data and video communication and deployment in residential, SOHO, SME, enterprise and automotive applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders. More information about DSP Group is available at www.dspg.com.
For more information, please contact Ofer Elyakim, Director of Investor Relations & Business Development, DSP Group Inc. at (408) 986-4421; or e-mail: email@example.com
SOURCE DSP Group, Inc.
CONTACT: Ofer Elyakim, Director of Investor Relations & Business Development of DSP Group Inc., +1-408-986-4421 or firstname.lastname@example.org
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, email@example.com
Web site: http://www.dspg.com