Digi International (NASDAQ:DGII) received a $16.00 target price from analysts at Lake Street Capital in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price target points to a potential upside of 18.52% from the stock’s current price.
DGII has been the topic of several other research reports. BidaskClub downgraded Digi International from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. First Analysis set a $16.00 target price on Digi International and gave the company a “buy” rating in a research note on Thursday, July 5th. Zacks Investment Research raised Digi International from a “sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Dougherty & Co lifted their target price on Digi International from $14.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Canaccord Genuity lifted their target price on Digi International from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.08.
Shares of DGII stock traded up $0.05 during trading hours on Thursday, reaching $13.50. 4,685 shares of the company traded hands, compared to its average volume of 57,725. Digi International has a 12-month low of $9.21 and a 12-month high of $14.70. The stock has a market cap of $366.41 million, a P/E ratio of 36.49 and a beta of 1.37.
In other Digi International news, VP Jon A. Nyland sold 13,995 shares of Digi International stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $13.22, for a total value of $185,013.90. Following the sale, the vice president now owns 48,646 shares of the company’s stock, valued at approximately $643,100.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jon A. Nyland sold 10,000 shares of Digi International 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 completion of the sale, the vice president now directly owns 40,859 shares in the company, valued at approximately $548,736.37. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its stake in 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 worth $832,000 after acquiring an additional 5,175 shares during the last quarter. SG Americas Securities LLC bought a new stake in Digi International in the 2nd quarter worth approximately $126,000. EAM Global Investors LLC bought a new stake in Digi International in the 2nd quarter worth approximately $1,219,000. EAM Investors LLC bought a new stake in Digi International in the 2nd quarter worth approximately $1,674,000. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Digi International by 16.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,015,964 shares of the technology company’s stock worth $13,411,000 after acquiring an additional 145,454 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
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.
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