Digi International (NASDAQ:DGII) Downgraded by Zacks Investment Research to Sell

Digi International (NASDAQ:DGII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, December 26th.

According to Zacks, “Digi International Inc. is a leading global provider of business and mission-critical Internet of Things (IoT) products and services. They help their customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Digi International, Inc. (Digi) was formed in 1985-long before anyone coined the term the Internet of Things. They always focused on connecting things, starting with intelligent multiport serial boards for PCs. As wireless data technologies evolved, they invented right along with it, expanding their product lines with RF modules, gateways, and cellular routers to build critical communications infrastructures, plus embedded wireless system on module (SoM) and single-board computer (SBC) offerings for makers of next generation connected products. “

Other analysts also recently issued reports about the company. Canaccord Genuity reiterated a “buy” rating on shares of Digi International in a report on Friday, October 27th. BidaskClub cut shares of Digi International from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 6th. Sidoti raised shares of Digi International from a “neutral” rating to a “buy” rating in a research report on Monday, December 11th. Finally, TheStreet raised shares of Digi International from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.00.

Digi International (NASDAQ DGII) opened at $10.25 on Tuesday. Digi International has a 52-week low of $8.50 and a 52-week high of $14.00. The stock has a market capitalization of $274.66, a P/E ratio of 29.29 and a beta of 1.44.

Digi International (NASDAQ:DGII) last posted its earnings results on Thursday, October 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $45.10 million for the quarter, compared to analyst estimates of $45.66 million. Digi International had a return on equity of 3.24% and a net margin of 5.16%. Digi International’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. research analysts expect that Digi International will post 0.25 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of DGII. State Street Corp boosted its holdings in Digi International by 5.1% during 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. boosted its holdings in Digi International by 12.2% during 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. Teachers Advisors LLC boosted its holdings in Digi International by 3.5% during the second quarter. Teachers Advisors LLC now owns 42,937 shares of the technology company’s stock worth $436,000 after buying an additional 1,464 shares in the last quarter. Rhumbline Advisers boosted its stake in Digi International by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 54,451 shares of the technology company’s stock worth $553,000 after purchasing an additional 1,075 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in Digi International by 6.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 15,830 shares of the technology company’s stock worth $161,000 after purchasing an additional 910 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

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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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