Craig Hallum assumed coverage on shares of Digi International (NASDAQ:DGII) in a research note released on Tuesday. The firm issued a buy rating and a $17.00 target price on the technology company’s stock.

DGII has been the topic of a number of other research reports. BidaskClub downgraded Digi International from a hold rating to a sell rating in a research note on Thursday, September 13th. Lake Street Capital set a $16.00 price objective on Digi International and gave the stock a buy rating in a research report on Thursday, September 27th. ValuEngine cut Digi International from a buy rating to a hold rating in a research report on Wednesday, December 5th. Canaccord Genuity reaffirmed a buy rating and set a $21.00 price objective on shares of Digi International in a research report on Friday, November 16th. Finally, Dougherty & Co reaffirmed a buy rating and set a $16.50 price objective (up from $14.00) on shares of Digi International in a research report on Tuesday, September 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $16.92.

NASDAQ:DGII opened at $11.72 on Tuesday. The company has a market cap of $316.98 million, a P/E ratio of 234.40, a PEG ratio of 2.90 and a beta of 1.42. Digi International has a 52-week low of $9.28 and a 52-week high of $14.70.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Thursday, November 15th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $65.66 million for the quarter, compared to the consensus estimate of $61.90 million. Digi International had a return on equity of 1.32% and a net margin of 0.57%. During the same quarter last year, the business posted $0.16 EPS. As a group, analysts expect that Digi International will post 0.3 earnings per share for the current fiscal year.

In related news, Director Ahmed Nawaz sold 13,300 shares of Digi International stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $11.40, for a total transaction of $151,620.00. Following the completion of the transaction, the director now directly owns 148,944 shares of the company’s stock, valued at $1,697,961.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Tracy L. Roberts sold 2,401 shares of Digi International stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $11.86, for a total value of $28,475.86. Following the transaction, the vice president now directly owns 40,619 shares of the company’s stock, valued at $481,741.34. The disclosure for this sale can be found here. Insiders have sold a total of 25,294 shares of company stock valued at $293,122 over the last ninety days. 6.80% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of DGII. SG Americas Securities LLC acquired a new position in Digi International during the second quarter worth $126,000. MetLife Investment Advisors LLC raised its holdings in Digi International by 58.7% during the third quarter. MetLife Investment Advisors LLC now owns 19,843 shares of the technology company’s stock worth $267,000 after purchasing an additional 7,343 shares during the last quarter. California Public Employees Retirement System raised its holdings in Digi International by 8.9% during the second quarter. California Public Employees Retirement System now owns 63,011 shares of the technology company’s stock worth $832,000 after purchasing an additional 5,175 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Digi International by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 349,957 shares of the technology company’s stock worth $4,707,000 after purchasing an additional 9,956 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Digi International by 3.4% during the third quarter. Loomis Sayles & Co. L P now owns 558,549 shares of the technology company’s stock worth $7,512,000 after purchasing an additional 18,168 shares during the last quarter. 81.67% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Digi International (NASDAQ:DGII)

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