Digi International Inc. (NASDAQ:DGII) Receives $17.63 Consensus Price Target from Brokerages

Shares of Digi International Inc. (NASDAQ:DGII) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.63.

Several research analysts recently weighed in on the stock. ValuEngine raised shares of Digi International from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. TheStreet raised shares of Digi International from a “c+” rating to a “b-” rating in a report on Monday, July 8th. Zacks Investment Research downgraded shares of Digi International from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, BidaskClub raised shares of Digi International from a “hold” rating to a “buy” rating in a report on Thursday.

In other Digi International news, VP Tracy L. Roberts sold 22,180 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $11.43, for a total transaction of $253,517.40. Following the completion of the transaction, the vice president now owns 60,581 shares of the company’s stock, valued at approximately $692,440.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of Digi International by 1.0% during the 1st quarter. Rhumbline Advisers now owns 82,074 shares of the technology company’s stock valued at $1,040,000 after purchasing an additional 805 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Digi International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock valued at $552,000 after purchasing an additional 833 shares during the last quarter. Strs Ohio boosted its holdings in shares of Digi International by 7.7% during the 2nd quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,200 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Digi International by 0.7% during the 1st quarter. Gabelli Funds LLC now owns 203,500 shares of the technology company’s stock valued at $2,578,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Digi International by 5.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 33,360 shares of the technology company’s stock valued at $423,000 after purchasing an additional 1,600 shares during the last quarter. 82.43% of the stock is owned by institutional investors and hedge funds.

Digi International stock traded up $0.11 during mid-day trading on Tuesday, hitting $13.15. The stock had a trading volume of 649 shares, compared to its average volume of 120,927. The firm has a market capitalization of $387.16 million, a P/E ratio of 260.80, a P/E/G ratio of 3.06 and a beta of 1.58. The firm’s 50 day moving average is $12.92 and its 200 day moving average is $12.61. Digi International has a one year low of $9.28 and a one year high of $14.44.

Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, August 8th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $61.17 million during the quarter, compared to the consensus estimate of $63.30 million. Digi International had a net margin of 4.43% and a return on equity of 2.15%. On average, research analysts predict that Digi International will post 0.33 earnings per share for the current year.

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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