Digi International (NASDAQ: DGII) was upgraded by Zacks Investment Research from a “sell” rating to a “conservation” rating in a research report released Wednesday, Zacks.com reports.
According to Zacks, “Digi International Inc. is one of the world’s leading providers of commercial and 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 safety, relentless reliability and rock-solid performance. Digi International, Inc. (Digi) was established in 1985, long before anyone coined the term Internet of Things. They have always focused on connecting things, starting with smart multi-port serial cards for As wireless data technologies evolved, they invented with them, expanding their product lines with RF modules, cellular gateways and routers to create critical communications infrastructures; as well as an integrated wireless system on module (SoM) and single board computer (SBC) for manufacturers of next generation connected products. “
Several other equity analysts have also recently weighed on DGII. Canaccord Genuity raised its target price for Digi International shares from $ 25 to $ 28.00 and assigned a “buy” rating to the stock in a research note on Thursday, November 11. Roth Capital raised its price target for Digi International shares from $ 28.00 to $ 33.00 and gave the stock a “buy” rating in a research note on Thursday, November 11. Two investment analysts rated the stock with a conservation rating and six issued a buy rating for the stock. Based on data from MarketBeat.com, Digi International has a consensus rating of “Buy” and an average target price of $ 26.93.
Shares of DGII traded up $ 0.31 during trading hours on Wednesday, reaching $ 24.61. 183,180 shares of the stock were traded for an average volume of 179,936. The company has a current ratio of 4.18, a quick ratio of 3.44 and a debt ratio of 0.10. The stock has a fifty-day moving average price of $ 22.96. Digi International has a 52 week low of $ 16.33 and a 52 week high of $ 25.63. The stock has a market cap of $ 846.71 million, a P / E ratio of 82.03, a price / earnings-growth ratio of 2.61 and a beta of 1.48.
Digi International (NASDAQ: DGII) last reported its quarterly results on Wednesday, November 10. The tech company reported EPS of $ 0.13 for the quarter, beating the consensus estimate of $ 0.08 by $ 0.05. Digi International had a net margin of 3.36% and a return on equity of 2.34%. During the same period last year, the company made EPS of $ 0.15. As a group, sell-side analysts expect Digi International to post 0.51 EPS for the current year.
In related news, insider Kevin C. Riley sold 5,283 shares of the company in a trade that took place on Wednesday, December 1. The shares were sold at an average price of $ 22.59, for a total trade of $ 119,342.97. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link. In addition, Vice President Tracy L. Roberts sold 40,000 shares of the company in a transaction that took place on Thursday, November 18. The shares were sold at an average price of $ 23.94, for a total trade of $ 957,600.00. Disclosure of this sale can be found here. 3.80% of the shares are currently held by insiders.
A number of institutional investors have recently changed their positions within the DGII. Rhumbline Advisers increased its stake in Digi International shares by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 106,262 shares of the tech company valued at $ 2,137,000 after acquiring an additional 1,528 shares in the last quarter. The California State Teachers Retirement System increased its stake in Digi International shares by 5.4% in the second quarter. California State Teachers Retirement System now owns 46,448 shares of the tech company valued at $ 934,000 after acquiring 2,390 additional shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Digi International shares by 20.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,774 shares of the tech company valued at $ 297,000 after acquiring 2,474 additional shares in the last quarter. The New York State Common Retirement Fund increased its stake in Digi International shares by 21.0% in the second quarter. The New York State Pooled Retirement Fund now owns 30,141 shares of the tech company valued at $ 606,000 after acquiring an additional 5,241 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Digi International shares by 32.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 25,715 shares of the technology company valued at $ 541,000 after acquiring an additional 6,247 shares in the last quarter. Institutional investors and hedge funds hold 86.31% of the company’s shares.
Digi International Company Profile
Digi International, Inc provides strategic Internet of Things (IoT) connectivity products, services and solutions for businesses. It operates through the following segments: IoT Products and Services and IoT Solutions. The IoT Products and Services segment offers products and services that help original equipment manufacturers, enterprises, and government customers build and deploy secure IoT connectivity solutions.
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