Digi International (DGII) Cut to Hold at ValuEngine

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ValuEngine cut shares of Digi International (NASDAQ:DGII) from a buy rating to a hold rating in a research report released on Wednesday morning.

A number of other research firms have also recently weighed in on DGII. BidaskClub raised Digi International from a sell rating to a hold rating in a research report on Wednesday, October 24th. Canaccord Genuity reaffirmed a buy rating and set a $18.00 price target on shares of Digi International in a research report on Wednesday, August 8th. Dougherty & Co reaffirmed a buy rating and set a $16.50 price target (up previously from $14.00) on shares of Digi International in a research report on Tuesday, September 25th. Finally, Lake Street Capital set a $16.00 price target on Digi International and gave the stock a buy rating in a research report on Thursday, September 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $16.90.

Digi International stock opened at $11.08 on Wednesday. The firm has a market capitalization of $304.35 million, a PE ratio of 221.60, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. Digi International has a 1-year low of $9.29 and a 1-year high of $14.70.

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

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EAM Investors LLC purchased a new position in shares of Digi International in the 2nd quarter valued at about $1,674,000. EAM Global Investors LLC purchased a new position in shares of Digi International in the 2nd quarter valued at about $1,219,000. SG Americas Securities LLC purchased a new position in shares of Digi International in the 2nd quarter valued at about $126,000. California Public Employees Retirement System increased its stake 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 valued at $832,000 after purchasing an additional 5,175 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased 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. Institutional investors and hedge funds own 81.70% of the company’s stock.

About Digi International

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Digi International (NASDAQ:DGII)

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