Analysts Set Digi International Inc. (DGII) Target Price at $16.90

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.

NASDAQ DGII traded down $0.13 on Friday, reaching $11.48. The company had a trading volume of 53,587 shares, compared to its average volume of 80,724. The company has a market cap of $313.02 million, a P/E ratio of 31.03, a P/E/G ratio of 2.36 and a beta of 1.45. Digi International has a 12 month low of $9.21 and a 12 month high of $14.70.

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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Analyst Recommendations for Digi International (NASDAQ:DGII)

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