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

Shares of Digi International Inc. (NASDAQ:DGII) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $48.80.

A number of analysts have commented on DGII shares. Stephens lifted their target price on shares of Digi International from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, January 2nd. B. Riley lifted their price objective on shares of Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $45.00 in a report on Thursday, November 13th. Roth Capital lifted their price target on shares of Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Digi International in a report on Wednesday, December 24th.

Digi International Stock Down 1.1%

Shares of DGII opened at $42.37 on Friday. The business’s fifty day moving average price is $41.69 and its two-hundred day moving average price is $37.41. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 39.23 and a beta of 0.86. Digi International has a 52 week low of $22.39 and a 52 week high of $48.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.85 and a current ratio of 1.21.

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

Insider Activity at Digi International

In related news, VP David H. Sampsell sold 22,222 shares of Digi International stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $38.38, for a total value of $852,880.36. Following the sale, the vice president owned 31,749 shares of the company’s stock, valued at approximately $1,218,526.62. This trade represents a 41.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Terrence G. Schneider sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $40.56, for a total value of $676,013.52. Following the transaction, the vice president directly owned 24,756 shares in the company, valued at $1,004,103.36. This trade represents a 40.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,572 shares of company stock valued at $2,256,580 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Verity Asset Management Inc. acquired a new stake in Digi International during the 3rd quarter valued at $464,000. Millennium Management LLC acquired a new stake in Digi International during the third quarter worth approximately $292,000. California State Teachers Retirement System grew its holdings in shares of Digi International by 9.9% during the 3rd quarter. California State Teachers Retirement System now owns 37,001 shares of the technology company’s stock worth $1,349,000 after purchasing an additional 3,343 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Digi International by 3,880.3% during the 3rd quarter. Brooklyn Investment Group now owns 5,652 shares of the technology company’s stock worth $206,000 after acquiring an additional 5,510 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Digi International by 48.7% during the third quarter. BNP Paribas Financial Markets now owns 14,018 shares of the technology company’s stock valued at $511,000 after purchasing an additional 4,594 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

About Digi International

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.