Bank of New York Mellon Corp lessened its stake in Digi International Inc. (NASDAQ:DGII) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,205 shares of the technology company’s stock after selling 27,489 shares during the quarter. Bank of New York Mellon Corp owned about 1.31% of Digi International worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, Arizona State Retirement System lifted its stake in Digi International by 226.1% in the fourth quarter. Arizona State Retirement System now owns 44,816 shares of the technology company’s stock valued at $428,000 after buying an additional 31,075 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.
A number of brokerages have weighed in on DGII. Dougherty & Co began coverage on shares of Digi International in a research note on Tuesday, March 27th. They issued a “buy” rating and a $14.00 price target on the stock. BidaskClub raised shares of Digi International from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Roth Capital began coverage on shares of Digi International in a report on Friday, February 2nd. They set a “buy” rating and a $15.00 target price on the stock. Zacks Investment Research upgraded shares of Digi International from a “sell” rating to a “hold” rating in a report on Wednesday, March 28th. Finally, ValuEngine upgraded shares of Digi International from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $14.00.
Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). Digi International had a return on equity of 1.91% and a net margin of 1.34%. The firm had revenue of $45.20 million for the quarter, compared to the consensus estimate of $45.58 million. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. research analysts anticipate that Digi International Inc. will post 0.06 EPS for the current fiscal year.
In other news, COO Kevin C. Riley sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.50, for a total value of $42,000.00. Following the completion of the transaction, the chief operating officer now owns 81,941 shares of the company’s stock, valued at $860,380.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kevin C. Riley sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $10.45, for a total value of $209,000.00. Following the completion of the transaction, the chief operating officer now directly owns 97,941 shares of the company’s stock, valued at approximately $1,023,483.45. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
Digi International Company Profile
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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