Digi International Inc. (NASDAQ:DGII) Receives Average Rating of “Moderate Buy” from Brokerages

Digi International Inc. (NASDAQ:DGII) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $48.80.

A number of brokerages recently issued reports on DGII. B. Riley increased their price target on Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Craig Hallum raised shares of Digi International from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $45.00 in a report on Thursday, November 13th. Wall Street Zen downgraded Digi International from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Sandler boosted their price objective on Digi International from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Finally, Stephens increased their target price on Digi International from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, January 2nd.

Digi International Price Performance

Digi International stock opened at $40.84 on Friday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 37.82 and a beta of 0.86. The stock’s 50 day moving average is $41.78 and its 200-day moving average is $37.48. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.25. Digi International has a 12 month low of $22.39 and a 12 month high of $48.00.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Digi International had a return on equity of 10.88% and a net margin of 9.48%.The firm had revenue of $114.34 million for the quarter, compared to analyst estimates of $110.75 million. During the same period in the prior year, the firm posted $0.52 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts expect that Digi International will post 1.68 EPS for the current year.

Insider Activity

In other news, VP David H. Sampsell sold 8,748 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $41.52, for a total transaction of $363,216.96. Following the completion of the transaction, the vice president directly owned 31,757,255 shares in the company, valued at $1,318,561,227.60. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Terrence G. Schneider sold 4,208 shares of Digi International stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.68, for a total transaction of $175,389.44. Following the completion of the sale, the vice president directly owned 24,756 shares of the company’s stock, valued at approximately $1,031,830.08. This trade represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 56,572 shares of company stock valued at $2,256,580. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DGII. Farther Finance Advisors LLC grew its holdings in shares of Digi International by 5,263.2% during the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock valued at $71,000 after buying an additional 2,000 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Digi International in the 2nd quarter worth about $4,293,000. Jones Financial Companies Lllp lifted its position in Digi International by 9,344.7% in the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock valued at $3,023,000 after acquiring an additional 107,464 shares in the last quarter. Geneva Capital Management LLC lifted its position in Digi International by 5.9% in the 2nd quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock valued at $60,322,000 after acquiring an additional 95,756 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Digi International by 67.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock valued at $59,000 after purchasing an additional 685 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Company Profile

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.