Digi International Inc. (DGII) Upgraded to “B” at TheStreet

TheStreet upgraded shares of Digi International Inc. (NASDAQ:DGII) from a c+ rating to a b rating in a report released on Friday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Digi International from a sell rating to a hold rating in a report on Wednesday, July 5th. Canaccord Genuity reiterated a buy rating and set a $15.00 target price on shares of Digi International in a report on Friday, July 28th. BidaskClub lowered shares of Digi International from a sell rating to a strong sell rating in a report on Monday, July 31st. Finally, Sidoti lowered shares of Digi International from a buy rating to a neutral rating and set a $12.00 target price for the company. in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $14.00.

Shares of Digi International (DGII) traded down 0.48% during mid-day trading on Friday, hitting $10.45. The stock had a trading volume of 25,984 shares. The stock has a market capitalization of $277.33 million, a P/E ratio of 31.76 and a beta of 1.49. Digi International has a 52 week low of $8.50 and a 52 week high of $14.15. The stock has a 50 day moving average of $10.41 and a 200-day moving average of $10.12.

Digi International (NASDAQ:DGII) last posted its earnings results on Thursday, October 26th. The technology company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The company had revenue of $45.10 million during the quarter, compared to analyst estimates of $45.66 million. Digi International had a net margin of 5.16% and a return on equity of 3.24%. Digi International’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. On average, equities research analysts predict that Digi International will post $0.41 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Digi International by 5.1% in the second quarter. State Street Corp now owns 729,474 shares of the technology company’s stock worth $7,399,000 after buying an additional 35,133 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Digi International by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 599,573 shares of the technology company’s stock worth $6,086,000 after buying an additional 65,430 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Digi International by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 478,009 shares of the technology company’s stock worth $5,689,000 after buying an additional 3,433 shares in the last quarter. Geode Capital Management LLC raised its stake in Digi International by 2.9% in the first quarter. Geode Capital Management LLC now owns 212,705 shares of the technology company’s stock worth $2,531,000 after buying an additional 6,068 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Digi International by 6.7% in the second quarter. TIAA CREF Investment Management LLC now owns 128,218 shares of the technology company’s stock worth $1,301,000 after buying an additional 8,056 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

About Digi International

Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.

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