Zacks Investment Research Lowers Digi International (NASDAQ:DGII) to Hold

Zacks Investment Research cut shares of Digi International (NASDAQ:DGII) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Digi International Inc. is a leading global provider of business and mission-critical Internet of Things (IoT) products and services. They help their customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Digi International, Inc. (Digi) was formed in 1985-long before anyone coined the term the Internet of Things. They always focused on connecting things, starting with intelligent multiport serial boards for PCs. As wireless data technologies evolved, they invented right along with it, expanding their product lines with RF modules, gateways, and cellular routers to build critical communications infrastructures, plus embedded wireless system on module (SoM) and single-board computer (SBC) offerings for makers of next generation connected products. “

DGII has been the topic of several other research reports. BidaskClub raised Digi International from a sell rating to a hold rating in a research report on Tuesday, June 11th. 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $17.10.

Shares of NASDAQ DGII traded down $0.25 during midday trading on Tuesday, hitting $12.87. 1,844 shares of the company’s stock were exchanged, compared to its average volume of 104,321. Digi International has a twelve month low of $9.28 and a twelve month high of $14.44. The company has a market cap of $373.19 million, a P/E ratio of 257.50, a PEG ratio of 2.78 and a beta of 1.62. The firm has a fifty day simple moving average of $12.61.

Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $65.76 million for the quarter, compared to analyst estimates of $60.20 million. Digi International had a return on equity of 2.57% and a net margin of 4.78%. Sell-side analysts predict 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 business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $11.43, for a total value of $253,517.40. Following the transaction, the vice president now owns 60,581 shares of the company’s stock, valued at $692,440.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Digi International by 39.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 50,530 shares of the technology company’s stock valued at $641,000 after purchasing an additional 14,300 shares during the period. Strs Ohio increased its holdings in shares of Digi International by 7.7% in the second quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,200 shares during the period. Arizona State Retirement System increased its holdings in shares of Digi International by 2.0% in the second quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock valued at $552,000 after purchasing an additional 833 shares during the period. Argent Capital Management LLC acquired a new position in shares of Digi International in the first quarter valued at approximately $2,563,000. Finally, Alambic Investment Management L.P. increased its holdings in shares of Digi International by 8.4% in the first quarter. Alambic Investment Management L.P. now owns 90,082 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 6,999 shares during the period. 81.87% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: How Important is Technical Analysis of Stocks

Get a free copy of the Zacks research report on Digi International (DGII)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Digi International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digi International and related companies with MarketBeat.com's FREE daily email newsletter.