Digi International Inc. (NASDAQ:DGII) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Digi International Inc. (NASDAQ:DGII) have earned an average rating of “Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.00.

Several research analysts have recently weighed in on the company. Stephens lowered their target price on Digi International from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, November 10th. StockNews.com initiated coverage on Digi International in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler dropped their target price on Digi International from $50.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, November 10th. TheStreet lowered Digi International from a “b” rating to a “c+” rating in a report on Thursday, November 9th. Finally, B. Riley initiated coverage on shares of Digi International in a research report on Wednesday. They set a “buy” rating and a $34.00 price target on the stock.

Digi International Stock Down 2.3 %

NASDAQ DGII opened at $24.42 on Friday. The business has a fifty day moving average price of $26.49 and a 200 day moving average price of $32.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.93. The company has a market cap of $879.12 million, a P/E ratio of 36.45, a P/E/G ratio of 0.65 and a beta of 1.31. Digi International has a one year low of $21.25 and a one year high of $43.68.

Digi International (NASDAQ:DGII) last issued its earnings results on Thursday, November 9th. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $112.16 million during the quarter, compared to analysts’ expectations of $110.63 million. Digi International had a net margin of 5.57% and a return on equity of 12.18%. Research analysts anticipate that Digi International will post 2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Digi International news, VP Terrence G. Schneider sold 12,500 shares of Digi International stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $33.47, for a total value of $418,375.00. Following the sale, the vice president now owns 332,587 shares in the company, valued at $11,131,686.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP David H. Sampsell sold 5,455 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $30.95, for a total transaction of $168,832.25. Following the completion of the transaction, the vice president now owns 71,412 shares of the company’s stock, valued at approximately $2,210,201.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terrence G. Schneider sold 12,500 shares of Digi International stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $33.47, for a total transaction of $418,375.00. Following the completion of the sale, the vice president now owns 332,587 shares of the company’s stock, valued at approximately $11,131,686.89. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC lifted its stake in Digi International by 183.7% during the 2nd quarter. Geneva Capital Management LLC now owns 928,375 shares of the technology company’s stock worth $36,569,000 after acquiring an additional 601,171 shares in the last quarter. Summit Creek Advisors LLC purchased a new stake in Digi International during the third quarter worth about $6,892,000. New York State Common Retirement Fund increased its stake in Digi International by 44.4% during the third quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after purchasing an additional 208,204 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Digi International by 36.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock worth $14,229,000 after purchasing an additional 139,720 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Digi International by 32.2% in the first quarter. Ameriprise Financial Inc. now owns 213,449 shares of the technology company’s stock valued at $7,189,000 after purchasing an additional 51,972 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Company Profile

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.