Digi International (NASDAQ:DGII) Stock Rating Lowered by ValuEngine

Digi International (NASDAQ:DGII) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday, ValuEngine reports.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Digi International from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. BidaskClub cut Digi International from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, TheStreet upgraded Digi International from a “c+” rating to a “b-” rating in a report on Monday, July 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.67.

Shares of NASDAQ:DGII traded up $0.10 during trading on Monday, hitting $13.62. 63,700 shares of the company’s stock traded hands, compared to its average volume of 141,352. Digi International has a 52 week low of $9.28 and a 52 week high of $14.71. The company has a market cap of $382.99 million, a price-to-earnings ratio of 272.40, a price-to-earnings-growth ratio of 2.00 and a beta of 1.59. The company has a 50-day moving average price of $13.40 and a 200-day moving average price of $12.68.

Digi International (NASDAQ:DGII) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Digi International had a return on equity of 2.15% and a net margin of 4.43%. The business had revenue of $61.17 million for the quarter, compared to analysts’ expectations of $63.30 million. Equities analysts forecast that Digi International will post 0.33 EPS for the current year.

In related news, VP Terrence G. Schneider sold 2,636 shares of Digi International stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $13.61, for a total value of $35,875.96. Following the sale, the vice president now owns 20,666 shares of the company’s stock, valued at approximately $281,264.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its position in Digi International by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock valued at $552,000 after buying an additional 833 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Digi International by 32.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,676 shares of the technology company’s stock valued at $275,000 after buying an additional 5,325 shares during the last quarter. Russell Investments Group Ltd. raised its position in Digi International by 5.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 33,360 shares of the technology company’s stock valued at $423,000 after buying an additional 1,600 shares during the last quarter. Strs Ohio raised its position in Digi International by 7.7% in the 2nd quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock valued at $211,000 after buying an additional 1,200 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in Digi International by 39.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 50,530 shares of the technology company’s stock valued at $641,000 after buying an additional 14,300 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

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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