Digi International (DGII) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Digi International (NASDAQ:DGII) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also issued reports on DGII. BidaskClub raised shares of Digi International from a sell rating to a hold rating in a research report on Friday, September 21st. 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 research report on Monday, September 17th. Lake Street Capital set a $16.00 target price on shares of Digi International and gave the stock a buy rating in a research report on Thursday, September 27th. Finally, Dougherty & Co reissued a buy rating and issued a $16.50 price target (up previously from $14.00) on shares of Digi International in a report on Tuesday, September 25th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Digi International currently has an average rating of Buy and an average price target of $16.90.

Shares of DGII stock opened at $10.76 on Wednesday. Digi International has a 1 year low of $9.29 and a 1 year high of $14.70. The firm has a market cap of $308.47 million, a P/E ratio of 80.21, a P/E/G ratio of 2.87 and a beta of 1.41.

Digi International (NASDAQ:DGII) last announced its earnings results on Thursday, November 15th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. Digi International had a net margin of 0.57% and a return on equity of 1.32%. The business had revenue of $65.66 million for the quarter, compared to analyst estimates of $61.90 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, analysts expect that Digi International will post 0.29 EPS for the current fiscal year.

In other Digi International news, Director Ahmed Nawaz sold 7,213 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $11.74, for a total value of $84,680.62. Following the sale, the director now owns 153,777 shares of the company’s stock, valued at approximately $1,805,341.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tracy L. Roberts sold 2,401 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $11.86, for a total transaction of $28,475.86. Following the completion of the sale, the vice president now directly owns 40,619 shares in the company, valued at approximately $481,741.34. The disclosure for this sale can be found here. Insiders sold a total of 25,294 shares of company stock worth $293,122 in the last three months. Insiders own 6.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in DGII. EAM Investors LLC acquired a new stake in shares of Digi International in the 2nd quarter valued at $1,674,000. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Digi International by 9.3% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,110,907 shares of the technology company’s stock valued at $14,942,000 after purchasing an additional 94,943 shares in the last quarter. EAM Global Investors LLC acquired a new stake in shares of Digi International in the 2nd quarter valued at $1,219,000. Loomis Sayles & Co. L P boosted its stake in shares of Digi International by 3.4% in 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 purchasing an additional 18,168 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 valued at $4,707,000 after purchasing an additional 9,956 shares in the last quarter. 81.70% of the stock is currently 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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Analyst Recommendations for Digi International (NASDAQ:DGII)

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