Shares of Digi International Inc. (NASDAQ:DGII) have received a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.90.
A number of brokerages have issued reports on DGII. BidaskClub upgraded shares of Digi International from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Lake Street Capital restated a “buy” rating and issued a $16.00 target price on shares of Digi International in a report on Friday, July 27th. Canaccord Genuity boosted their target price on shares of Digi International from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, Dougherty & Co restated a “buy” rating and issued a $16.50 target price (up from $14.00) on shares of Digi International in a report on Tuesday, September 25th.
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Digi International in the 2nd quarter worth approximately $126,000. California Public Employees Retirement System lifted its position in shares of Digi International by 8.9% in the 2nd quarter. California Public Employees Retirement System now owns 63,011 shares of the technology company’s stock worth $832,000 after purchasing an additional 5,175 shares during the period. EAM Global Investors LLC purchased a new stake in shares of Digi International in the 2nd quarter worth approximately $1,219,000. EAM Investors LLC purchased a new stake in shares of Digi International in the 2nd quarter worth approximately $1,674,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Digi International by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 349,957 shares of the technology company’s stock worth $4,707,000 after purchasing an additional 9,956 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.
Digi International Company Profile
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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