Digi International Inc. (DGII) Receives $16.92 Consensus Price Target from Brokerages

Shares of Digi International Inc. (NASDAQ:DGII) have received a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.92.

DGII has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Digi International from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, January 16th. ValuEngine upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. TheStreet upgraded shares of Digi International from a “c+” rating to a “b” rating in a research report on Friday, February 1st. Craig Hallum initiated coverage on shares of Digi International in a research report on Tuesday, January 8th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, BidaskClub cut shares of Digi International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th.

Shares of NASDAQ:DGII traded up $0.05 during trading on Wednesday, reaching $12.54. The stock had a trading volume of 114,200 shares, compared to its average volume of 188,861. Digi International has a 52 week low of $9.28 and a 52 week high of $14.70. The stock has a market capitalization of $346.98 million, a P/E ratio of 250.80, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53.

Digi International (NASDAQ:DGII) last posted its earnings results on Thursday, January 31st. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Digi International had a net margin of 4.30% and a return on equity of 2.20%. The company had revenue of $62.31 million during the quarter, compared to analysts’ expectations of $58.30 million. On average, analysts anticipate that Digi International will post 0.39 earnings per share for the current fiscal year.

In related news, VP Jon A. Nyland sold 4,392 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $13.56, for a total value of $59,555.52. Following the completion of the transaction, the vice president now owns 47,758 shares in the company, valued at approximately $647,598.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin C. Riley sold 41,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $13.50, for a total transaction of $553,500.00. Following the completion of the transaction, the insider now owns 127,670 shares of the company’s stock, valued at approximately $1,723,545. The disclosure for this sale can be found here. Insiders sold a total of 169,675 shares of company stock valued at $2,271,234 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Mairs & Power INC raised its position in shares of Digi International by 153.0% during the 4th quarter. Mairs & Power INC now owns 223,895 shares of the technology company’s stock valued at $2,259,000 after acquiring an additional 135,400 shares during the last quarter. Alambic Investment Management L.P. bought a new stake in shares of Digi International during the 4th quarter valued at $838,000. Geode Capital Management LLC raised its position 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 valued at $3,099,000 after acquiring an additional 35,154 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Digi International by 3.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 558,549 shares of the technology company’s stock valued at $7,512,000 after acquiring an additional 18,168 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Digi International by 21.7% during the 4th quarter. Rhumbline Advisers now owns 81,269 shares of the technology company’s stock valued at $820,000 after acquiring an additional 14,509 shares during the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.

Digi International Company Profile

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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Analyst Recommendations for Digi International (NASDAQ:DGII)

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