BidaskClub downgraded shares of Digi International (NASDAQ:DGII) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
A number of other brokerages also recently commented on DGII. Lake Street Capital reiterated a buy rating and set a $16.00 target price on shares of Digi International in a research note on Friday, July 27th. First Analysis set a $16.00 target price on shares of Digi International and gave the stock a buy rating in a research note on Thursday, July 5th. Zacks Investment Research upgraded shares of Digi International from a sell rating to a hold rating in a research note on Wednesday, June 27th. Canaccord Genuity reiterated a buy rating and set a $18.00 target price on shares of Digi International in a research note on Wednesday, August 8th. Finally, ValuEngine upgraded shares of Digi International from a hold rating to a buy rating in a research note on Monday, May 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Digi International has a consensus rating of Buy and a consensus target price of $15.17.
Shares of DGII stock opened at $12.70 on Friday. The firm has a market cap of $356.88 million, a P/E ratio of 34.32 and a beta of 1.41. Digi International has a 12 month low of $8.50 and a 12 month high of $14.70.
Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, July 26th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $62.72 million during the quarter, compared to the consensus estimate of $57.80 million. Digi International had a net margin of 0.98% and a return on equity of 1.50%. analysts expect that Digi International will post -0.02 EPS for the current year.
Digi International announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 26th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, VP Jon A. Nyland sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $13.43, for a total value of $134,300.00. Following the completion of the sale, the vice president now directly owns 40,859 shares of the company’s stock, valued at $548,736.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jon A. Nyland sold 13,995 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $13.22, for a total transaction of $185,013.90. Following the completion of the sale, the vice president now directly owns 48,646 shares of the company’s stock, valued at $643,100.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,094 shares of company stock valued at $440,755. 6.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in DGII. MetLife Investment Advisors LLC purchased a new stake in Digi International in the fourth quarter valued at $119,000. Millrace Asset Group Inc. lifted its position in Digi International by 16.7% in the first quarter. Millrace Asset Group Inc. now owns 233,390 shares of the technology company’s stock valued at $2,404,000 after acquiring an additional 33,390 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in Digi International by 16.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,015,964 shares of the technology company’s stock valued at $13,411,000 after acquiring an additional 145,454 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of Digi International in the second quarter valued at about $1,674,000. Finally, EAM Global Investors LLC purchased a new stake in shares of Digi International in the second quarter valued at about $1,219,000. 81.61% 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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