Digi International (NASDAQ:DGII) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Digi International (NASDAQ:DGII) from a hold rating to a buy rating in a research note released on Thursday, BidAskClub reports.

A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Digi International from a buy rating to a hold rating in a research report on Tuesday, July 30th. ValuEngine raised Digi International from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Finally, TheStreet raised Digi International from a c+ rating to a b- rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Digi International has an average rating of Buy and an average target price of $17.10.

NASDAQ DGII opened at $13.14 on Thursday. The firm has a market capitalization of $366.76 million, a P/E ratio of 262.80, a PEG ratio of 2.72 and a beta of 1.58. The business has a fifty day simple moving average of $12.94 and a 200 day simple moving average of $12.62. Digi International has a 12 month low of $9.28 and a 12 month high of $14.44.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $61.17 million during the quarter, compared to analyst estimates of $63.30 million. Digi International had a return on equity of 2.15% and a net margin of 4.43%. As a group, research analysts anticipate that Digi International will post 0.33 EPS for the current fiscal year.

In other news, VP Tracy L. Roberts sold 22,180 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $11.43, for a total transaction of $253,517.40. Following the completion of the sale, the vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $692,440.83. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in DGII. Geode Capital Management LLC boosted its holdings in shares of Digi International by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 307,169 shares of the technology company’s stock worth $3,099,000 after buying an additional 35,154 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Digi International by 405.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,153 shares of the technology company’s stock worth $92,000 after buying an additional 7,343 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of Digi International during the 4th quarter worth $77,000. Meeder Asset Management Inc. boosted its holdings in shares of Digi International by 2,052.1% during the 1st quarter. Meeder Asset Management Inc. now owns 8,759 shares of the technology company’s stock worth $112,000 after buying an additional 8,352 shares during the period. Finally, Strs Ohio boosted its holdings in shares of Digi International by 44.9% during the 1st quarter. Strs Ohio now owns 15,500 shares of the technology company’s stock worth $196,000 after buying an additional 4,800 shares during the period. 82.43% of the stock is owned by hedge funds and other institutional investors.

About Digi International

Digi International Inc provides Internet of Things connectivity products, services, and solutions in North America, Europe, the Middle East, Africa, Asia, and Latin America. The company operates in two segments, IoT Products & Services and IoT 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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