Shares of Deswell Industries, Inc. (NASDAQ:DSWL – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.40 and traded as high as $3.46. Deswell Industries shares last traded at $3.41, with a volume of 6,564 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of Deswell Industries from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.
Deswell Industries Stock Down 1.4%
Deswell Industries Dividend Announcement
The firm also recently declared a special dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be given a $0.20 dividend. The ex-dividend date is Thursday, July 2nd. Deswell Industries’s dividend payout ratio is 41.67%.
Hedge Funds Weigh In On Deswell Industries
An institutional investor recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC acquired a new position in Deswell Industries, Inc. (NASDAQ:DSWL – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries comprises about 1.9% of Royal Palms Capital LLC’s investment portfolio, making the stock its 24th biggest position. Royal Palms Capital LLC owned approximately 2.89% of Deswell Industries at the end of the most recent reporting period.
About Deswell Industries
Deswell Industries, Inc (NASDAQ: DSWL) is a China-based medical device company that designs, develops, manufactures and distributes airway management and respiratory care products. The company’s product portfolio includes laryngeal mask airways, disposable endotracheal tubes, nebulizers, oxygen therapy equipment, humidifiers and related ventilator accessories. Deswell’s devices are used in hospitals, clinics and home-care settings to support anesthesia, emergency medicine and respiratory treatment.
Founded in 2003 and headquartered in Shenzhen, Deswell operates multiple manufacturing facilities that comply with international quality standards, including FDA 510(k) clearances and CE markings for many of its devices.
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