BidaskClub lowered shares of Digi International (NASDAQ:DGII) from a buy rating to a hold rating in a research note published on Friday.

Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Digi International from a hold rating to a buy rating in a report on Monday, May 7th. Canaccord Genuity upped their price objective on shares of Digi International from $15.00 to $18.00 and gave the company a buy rating in a report on Wednesday, June 20th. Lake Street Capital reissued a buy rating and issued a $16.00 price objective on shares of Digi International in a report on Friday, July 27th. First Analysis set a $16.00 price objective on shares of Digi International and gave the company a buy rating in a report on Thursday, July 5th. Finally, Zacks Investment Research raised shares of Digi International from a sell rating to a hold rating in a report on Wednesday, June 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $15.17.

Shares of Digi International stock traded up $0.05 during trading hours on Friday, reaching $12.70. 76,254 shares of the company’s stock were exchanged, compared to its average volume of 92,390. Digi International has a 1 year low of $8.50 and a 1 year high of $14.70. The firm has a market capitalization of $356.88 million, a price-to-earnings ratio of 34.32 and a beta of 1.41.

Digi International (NASDAQ:DGII) last released its earnings results on Thursday, July 26th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. Digi International had a net margin of 0.98% and a return on equity of 1.50%. The business had revenue of $62.72 million during the quarter, compared to analyst estimates of $57.80 million. equities analysts expect that Digi International will post -0.02 EPS for the current fiscal year.

Digi International announced that its Board of Directors has initiated a share buyback plan on Thursday, April 26th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the technology company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

In other Digi International news, VP Jon A. Nyland sold 13,995 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $13.22, for a total value of $185,013.90. Following the transaction, the vice president now owns 48,646 shares of the company’s stock, valued at $643,100.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tracy L. Roberts sold 8,438 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $12.03, for a total transaction of $101,509.14. Following the completion of the transaction, the vice president now directly owns 49,512 shares in the company, valued at approximately $595,629.36. The disclosure for this sale can be found here. Insiders sold 34,094 shares of company stock valued at $440,755 in the last three months. 6.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of DGII. Gilder Gagnon Howe & Co. LLC lifted its position in Digi International by 16.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,015,964 shares of the technology company’s stock valued at $13,411,000 after buying an additional 145,454 shares during the last quarter. EAM Investors LLC acquired a new position in Digi International in the second quarter valued at about $1,674,000. EAM Global Investors LLC acquired a new position in Digi International in the second quarter valued at about $1,219,000. Millrace Asset Group Inc. lifted its position in Digi International by 16.7% in the first quarter. Millrace Asset Group Inc. now owns 233,390 shares of the technology company’s stock valued at $2,404,000 after buying an additional 33,390 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Digi International in the fourth quarter valued at about $119,000. 81.61% of the stock is currently owned by institutional investors.

Digi International Company Profile

Digi International Inc provides Internet of Things networking hardware products and solutions. It operates in two segments, Machine-to-Machine and 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.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Digi International (NASDAQ:DGII)

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