Shares of Digi International Inc. (NASDAQ:DGII) have received an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.92.
Several brokerages have commented on DGII. Craig Hallum began coverage on Digi International in a report on Tuesday, January 8th. They issued a “buy” rating and a $17.00 price objective on the stock. ValuEngine lowered Digi International from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Zacks Investment Research raised Digi International from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, March 5th. TheStreet raised Digi International from a “c+” rating to a “b” rating in a report on Friday, February 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $21.00 price objective on shares of Digi International in a report on Friday, November 16th.
In related news, VP Jon A. Nyland sold 4,392 shares of Digi International stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $13.56, for a total transaction of $59,555.52. Following the transaction, the vice president now owns 47,758 shares in the company, valued at $647,598.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kevin C. Riley sold 41,000 shares of Digi International stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $13.50, for a total value of $553,500.00. Following the transaction, the insider now owns 127,670 shares in the company, valued at approximately $1,723,545. The disclosure for this sale can be found here. Insiders sold 169,675 shares of company stock worth $2,271,234 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Digi International by 12.9% during the fourth 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 in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Digi International during the fourth quarter worth approximately $77,000. Metropolitan Life Insurance Co. NY lifted its position in Digi International by 405.7% during the fourth 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 in the last quarter. Mairs & Power INC lifted its position in Digi International by 153.0% during the fourth quarter. Mairs & Power INC now owns 223,895 shares of the technology company’s stock worth $2,259,000 after buying an additional 135,400 shares in the last quarter. Finally, White Pine Capital LLC lifted its position in Digi International by 5.9% during the fourth quarter. White Pine Capital LLC now owns 58,670 shares of the technology company’s stock worth $592,000 after buying an additional 3,267 shares in the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.
Shares of DGII opened at $12.68 on Friday. Digi International has a 12 month low of $9.28 and a 12 month high of $14.70. The company has a market capitalization of $362.54 million, a price-to-earnings ratio of 253.60, a price-to-earnings-growth ratio of 2.32 and a beta of 1.54.
Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Thursday, January 31st. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Digi International had a return on equity of 2.20% and a net margin of 4.30%. The company had revenue of $62.31 million for the quarter, compared to analyst estimates of $58.30 million. Equities research analysts anticipate that Digi International will post 0.39 EPS for the current year.
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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