Digi International (NASDAQ:DGII) Earns “Buy” Rating from Lake Street Capital

Lake Street Capital reissued their buy rating on shares of Digi International (NASDAQ:DGII) in a research note issued to investors on Friday, July 27th, The Fly reports. The firm currently has a $16.00 price target on the technology company’s stock.

A number of other equities analysts also recently commented on the company. ValuEngine upgraded Digi International from a sell rating to a hold rating in a report on Wednesday, April 4th. Canaccord Genuity upped their target price on Digi International from $15.00 to $18.00 and gave the stock a buy rating in a research report on Wednesday, June 20th. BidaskClub cut Digi International from a buy rating to a hold rating in a research report on Wednesday, June 13th. Zacks Investment Research raised Digi International from a sell rating to a hold rating in a research report on Wednesday, June 27th. Finally, First Analysis set a $16.00 target price on Digi International and gave the stock a buy rating in a research report on Thursday, July 5th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Digi International presently has an average rating of Buy and an average target price of $15.17.

Digi International remained flat at $$13.10 during mid-day trading on Friday, MarketBeat Ratings reports. The company had a trading volume of 39,348 shares, compared to its average volume of 93,357. Digi International has a 12-month low of $8.50 and a 12-month high of $14.70. The firm has a market capitalization of $356.88 million, a P/E ratio of 35.41 and a beta of 1.41.

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

Digi International announced that its board has authorized a stock repurchase plan on Thursday, April 26th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In related news, VP Tracy L. Roberts sold 8,438 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $12.03, for a total value of $101,509.14. Following the completion of the transaction, the vice president now directly owns 49,512 shares of the company’s stock, valued at $595,629.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jon A. Nyland sold 13,995 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 48,646 shares of the company’s stock, valued at $643,100.12. The disclosure for this sale can be found here. Insiders sold 34,094 shares of company stock valued at $440,755 over the last three months. 6.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC raised its stake in Digi International by 16.7% during the second 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 in the last quarter. Millrace Asset Group Inc. increased its stake in shares of Digi International by 16.7% in the first quarter. Millrace Asset Group Inc. now owns 233,390 shares of the technology company’s stock valued at $2,404,000 after buying an additional 33,390 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of Digi International in the second quarter valued at $1,674,000. EAM Global Investors LLC acquired a new stake in shares of Digi International in the second quarter valued at $1,219,000. Finally, Rhumbline Advisers increased its stake in shares of Digi International by 15.7% in the fourth quarter. Rhumbline Advisers now owns 64,118 shares of the technology company’s stock valued at $612,000 after buying an additional 8,697 shares in the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

About Digi International

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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The Fly

Analyst Recommendations for Digi International (NASDAQ:DGII)

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