Digi International (NASDAQ:DGII) Lifted to “Buy” at Zacks Investment Research

Digi International (NASDAQ:DGII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage presently has a $14.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.61% from the company’s previous close.

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 equities research analysts also recently issued research reports about the company. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. TheStreet raised Telefonaktiebolaget LM Ericsson from a “c” rating to a “b” rating in a report on Monday, July 8th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $16.90.

Shares of NASDAQ DGII traded up $0.14 during mid-day trading on Friday, hitting $13.01. 78,039 shares of the company were exchanged, compared to its average volume of 156,903. The business’s 50 day moving average is $12.12. Digi International has a 1-year low of $9.28 and a 1-year high of $14.45. The company has a market capitalization of $360.84 million, a price-to-earnings ratio of 260.20, a price-to-earnings-growth ratio of 2.69 and a beta of 1.62.

Digi International (NASDAQ:DGII) last released its earnings results on Thursday, May 2nd. The technology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Digi International had a return on equity of 2.57% and a net margin of 4.78%. The company had revenue of $65.76 million during the quarter, compared to the consensus estimate of $60.20 million. On average, sell-side analysts forecast that Digi International will post 0.33 EPS for the current fiscal year.

In other news, VP Tracy L. Roberts sold 22,180 shares of Digi International stock in a transaction on Thursday, June 6th. The stock was 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Digi International by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 307,169 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 35,154 shares in the last quarter. Gabelli Funds LLC increased its position in Digi International by 0.7% during the 1st quarter. Gabelli Funds LLC now owns 203,500 shares of the technology company’s stock worth $2,578,000 after purchasing an additional 1,500 shares in the last quarter. Argent Capital Management LLC purchased a new stake in Digi International during the 1st quarter worth about $2,563,000. Teton Advisors Inc. increased its position in Digi International by 37.5% during the 1st quarter. Teton Advisors Inc. now owns 116,620 shares of the technology company’s stock worth $1,478,000 after purchasing an additional 31,819 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its position in Digi International by 8.4% during the 1st quarter. Alambic Investment Management L.P. now owns 90,082 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 6,999 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Digi International

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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