Zacks Investment Research upgraded shares of Digi International (NASDAQ:DGII) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $17.00 target price on the technology company’s stock.
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. “
Other analysts also recently issued reports about the company. Craig Hallum raised their price objective on Digi International from $17.00 to $19.00 and gave the stock a buy rating in a research report on Friday. Canaccord Genuity reaffirmed a buy rating and issued a $26.00 target price on shares of Digi International in a research report on Thursday. ValuEngine downgraded Digi International from a hold rating to a sell rating in a research report on Friday, November 1st. Lake Street Capital lifted their target price on Digi International from $16.00 to $20.00 in a research report on Friday. Finally, BidaskClub raised Digi International from a hold rating to a buy rating in a research report on Saturday, October 19th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Digi International has an average rating of Buy and a consensus price target of $20.20.
Shares of NASDAQ:DGII traded up $2.26 during midday trading on Friday, reaching $17.36. 612,200 shares of the company’s stock traded hands, compared to its average volume of 93,736. The company has a fifty day simple moving average of $14.11 and a two-hundred day simple moving average of $13.00. The company has a market cap of $415.58 million, a P/E ratio of 26.71, a PEG ratio of 2.21 and a beta of 1.58. Digi International has a 1 year low of $9.28 and a 1 year high of $17.45.
Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Thursday, November 14th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $64.96 million during the quarter, compared to the consensus estimate of $63.20 million. Digi International had a return on equity of 2.15% and a net margin of 4.43%. On average, sell-side analysts forecast that Digi International will post 0.46 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its position in Digi International by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock valued at $552,000 after acquiring an additional 833 shares in the last quarter. Teton Advisors Inc. grew its position in Digi International by 0.6% in the 3rd quarter. Teton Advisors Inc. now owns 159,620 shares of the technology company’s stock valued at $2,174,000 after acquiring an additional 1,000 shares in the last quarter. Strs Ohio grew its position in Digi International by 7.7% in the 2nd quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock valued at $211,000 after acquiring an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. grew its position in Digi International by 5.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 33,360 shares of the technology company’s stock valued at $423,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Digi International by 32.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,676 shares of the technology company’s stock valued at $275,000 after buying an additional 5,325 shares during the period. 81.48% of the stock is owned by institutional investors.
Digi International Company Profile
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.
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