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

Shares of Digi International Inc. (NASDAQ:DGII) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $47.80.

Several equities research analysts have weighed in on DGII shares. Piper Sandler lifted their price objective on Digi International from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. B. Riley boosted their price objective on shares of Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Digi International in a research report on Wednesday, December 24th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and boosted their price target for the company from $30.00 to $45.00 in a research report on Thursday, November 13th. Finally, Roth Capital increased their price target on shares of Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th.

Insider Activity at Digi International

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DGII. Verity Asset Management Inc. bought a new stake in Digi International during the third quarter worth about $464,000. Millennium Management LLC purchased a new position in shares of Digi International during the third quarter valued at approximately $292,000. California State Teachers Retirement System boosted its position in shares of Digi International by 9.9% in 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 grew its stake in shares of Digi International by 3,880.3% in the 3rd quarter. Brooklyn Investment Group now owns 5,652 shares of the technology company’s stock worth $206,000 after buying an additional 5,510 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Digi International by 48.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,018 shares of the technology company’s stock valued at $511,000 after buying an additional 4,594 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

Digi International Trading Down 0.3%

Shares of DGII opened at $43.16 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 39.96 and a beta of 0.86. Digi International has a twelve month low of $22.39 and a twelve month high of $48.00. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $41.28 and a two-hundred day simple moving average of $37.16.

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 the consensus estimate of $0.51 by $0.05. The firm had revenue of $114.34 million during the quarter, compared to the consensus estimate of $110.75 million. Digi International had a net margin of 9.48% and a return on equity of 10.88%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, research analysts anticipate that Digi International will post 1.68 EPS for the current year.

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.