Craig Hallum Raises Digi International (NASDAQ:DGII) Price Target to $19.00

Digi International (NASDAQ:DGII) had its target price upped by Craig Hallum from $17.00 to $19.00 in a research report report published on Friday morning, Briefing.com Automated Import reports. They currently have a buy rating on the technology company’s stock.

DGII has been the topic of several other research reports. Robert W. Baird began coverage on shares of Digi International in a research note on Friday, November 1st. They issued an outperform rating and a $19.00 price objective on the stock. BidaskClub raised shares of Digi International from a hold rating to a buy rating in a research report on Saturday, October 19th. Canaccord Genuity reaffirmed a buy rating and set a $26.00 price target on shares of Digi International in a research report on Thursday, November 14th. Zacks Investment Research cut shares of Digi International from a buy rating to a hold rating in a research report on Friday, November 1st. Finally, ValuEngine cut shares of Digi International from a hold rating to a sell rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $20.20.

Shares of Digi International stock traded down $0.02 during trading on Friday, hitting $18.20. The company’s stock had a trading volume of 42,021 shares, compared to its average volume of 130,430. Digi International has a 52 week low of $9.28 and a 52 week high of $18.50. The stock has a market cap of $488.45 million, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 2.58 and a beta of 1.58. The stock has a 50-day moving average price of $14.34 and a two-hundred day moving average price of $13.07.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Thursday, November 14th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Digi International had a net margin of 3.92% and a return on equity of 2.56%. The company had revenue of $64.96 million for the quarter, compared to analysts’ expectations of $63.20 million. Analysts predict that Digi International will post 0.46 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System raised its holdings in shares of Digi International by 2.0% during the second quarter. Arizona State Retirement System now owns 43,525 shares of the technology company’s stock valued at $552,000 after purchasing an additional 833 shares during the period. Teton Advisors Inc. raised its holdings in shares of Digi International by 0.6% during the third quarter. Teton Advisors Inc. now owns 159,620 shares of the technology company’s stock valued at $2,174,000 after purchasing an additional 1,000 shares during the period. Strs Ohio raised its holdings in shares of Digi International by 7.7% during the second quarter. Strs Ohio now owns 16,700 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,200 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Digi International by 5.0% during the second quarter. Russell Investments Group Ltd. now owns 33,360 shares of the technology company’s stock valued at $423,000 after purchasing an additional 1,600 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Digi International by 32.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,676 shares of the technology company’s stock valued at $275,000 after purchasing an additional 5,325 shares during the period. 80.92% 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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