BidaskClub Upgrades Digi International (DGII) to Hold

BidaskClub upgraded shares of Digi International (NASDAQ:DGII) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other brokerages have also recently issued reports on DGII. Zacks Investment Research cut Digi International from a hold rating to a sell rating in a report on Tuesday, June 5th. Canaccord Genuity restated a buy rating and issued a $18.00 price target on shares of Digi International in a report on Wednesday, August 8th. Lake Street Capital restated a buy rating and issued a $16.00 price target on shares of Digi International in a report on Friday, July 27th. Finally, First Analysis set a $16.00 price target on Digi International and gave the stock a buy rating in a report on Thursday, July 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Digi International has an average rating of Buy and a consensus target price of $15.67.

Shares of NASDAQ:DGII opened at $13.25 on Friday. Digi International has a 1 year low of $9.21 and a 1 year high of $14.70. The stock has a market cap of $360.97 million, a PE ratio of 35.81 and a beta of 1.37.

Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, July 26th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. Digi International had a return on equity of 1.50% and a net margin of 0.98%. The business had revenue of $62.72 million during the quarter, compared to analysts’ expectations of $57.80 million. research analysts expect that Digi International will post -0.02 earnings per share for the current fiscal year.

In other Digi International news, VP Jon A. Nyland sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $13.43, for a total value of $134,300.00. Following the transaction, the vice president now directly owns 40,859 shares of the company’s stock, valued at approximately $548,736.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jon A. Nyland sold 13,995 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $13.22, for a total value of $185,013.90. Following the completion of the transaction, the vice president now directly owns 48,646 shares in the company, valued at $643,100.12. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Digi International in the 2nd quarter valued at approximately $126,000. California Public Employees Retirement System raised its position in shares of Digi International by 8.9% in the 2nd quarter. California Public Employees Retirement System now owns 63,011 shares of the technology company’s stock valued at $832,000 after purchasing an additional 5,175 shares in the last quarter. EAM Global Investors LLC acquired a new position in shares of Digi International in the 2nd quarter valued at approximately $1,219,000. EAM Investors LLC acquired a new position in shares of Digi International in the 2nd quarter valued at approximately $1,674,000. Finally, Millrace Asset Group Inc. raised its position in shares of Digi International by 16.7% during the 1st quarter. Millrace Asset Group Inc. now owns 233,390 shares of the technology company’s stock valued at $2,404,000 after acquiring an additional 33,390 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Digi International Company Profile

Digi International Inc provides Internet of Things networking hardware products and solutions. It operates in two segments, Machine-to-Machine and Solutions. It offers cellular routers that provide connectivity for devices over a cellular data network; cellular gateway products that enable devices or groups of devices to be networked in locations where there is no existing network or where access to a network is prohibited; radio frequency products that utilize a range of wireless protocols for PC-to-device or device-to-device connectivity; and Connect, Rabbit, and ARM-based embedded systems on module and single board computers for medical, transportation, and industrial device manufacturers.

Further Reading: Earnings Per Share

Analyst Recommendations for Digi International (NASDAQ:DGII)

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