Digi International (NASDAQ:DGII) Posts Earnings Results, Beats Estimates By $0.12 EPS

Digi International (NASDAQ:DGIIGet Rating) released its quarterly earnings results on Thursday. The technology company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12, Briefing.com reports. Digi International had a net margin of 3.49% and a return on equity of 4.56%. The firm had revenue of $104.00 million during the quarter, compared to analysts’ expectations of $96.12 million. During the same period in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 31.5% compared to the same quarter last year. Digi International updated its Q4 guidance to $0.41-0.44 EPS and its Q4 2022 guidance to $0.41-$0.44 EPS.

Digi International Stock Down 1.9 %

Shares of NASDAQ:DGII traded down $0.67 during trading hours on Friday, hitting $34.11. The company’s stock had a trading volume of 595,430 shares, compared to its average volume of 182,420. Digi International has a 52 week low of $18.54 and a 52 week high of $35.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 1.29. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 103.37, a P/E/G ratio of 1.36 and a beta of 1.41. The firm’s fifty day moving average price is $25.17 and its 200 day moving average price is $22.20.

Insider Activity

In other news, VP Tracy L. Roberts sold 11,250 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $25.46, for a total value of $286,425.00. Following the completion of the sale, the vice president now owns 53,957 shares in the company, valued at approximately $1,373,745.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Tracy L. Roberts sold 11,250 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $25.46, for a total transaction of $286,425.00. Following the completion of the transaction, the vice president now owns 53,957 shares in the company, valued at approximately $1,373,745.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Terrence G. Schneider sold 12,631 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $21.64, for a total transaction of $273,334.84. Following the transaction, the vice president now owns 30,314 shares of the company’s stock, valued at approximately $655,994.96. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Digi International by 2.9% during the 1st quarter. Rhumbline Advisers now owns 97,635 shares of the technology company’s stock worth $2,101,000 after acquiring an additional 2,711 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Digi International by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 18,052 shares of the technology company’s stock worth $388,000 after acquiring an additional 6,662 shares in the last quarter. US Bancorp DE raised its stake in shares of Digi International by 13.3% during the 1st quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock worth $272,000 after acquiring an additional 1,491 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Digi International by 61.9% during the 1st quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock worth $93,000 after acquiring an additional 1,663 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on DGII. Stephens began coverage on shares of Digi International in a research report on Wednesday, June 1st. They issued an “overweight” rating and a $36.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Digi International from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler boosted their price objective on shares of Digi International from $30.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

About Digi International

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Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States and internationally. The company operates in two segments, IoT Products & Services and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.

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Earnings History for Digi International (NASDAQ:DGII)

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