Digi International (NASDAQ:DGII) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Digi International (NASDAQ:DGII) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the company. B. Riley lifted their target price on Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Piper Sandler raised their price target on Digi International from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Craig Hallum upgraded Digi International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $45.00 in a research report on Thursday, November 13th. Roth Capital increased their target price on Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Stephens boosted their price target on shares of Digi International from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, January 2nd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.80.

Digi International Stock Performance

Digi International stock opened at $42.73 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.85. Digi International has a 12 month low of $22.39 and a 12 month high of $48.00. The company has a fifty day moving average price of $42.16 and a two-hundred day moving average price of $37.65. The company has a market cap of $1.61 billion, a PE ratio of 39.57 and a beta of 0.86.

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

Insider Buying and Selling at Digi International

In related news, VP Terrence G. Schneider sold 16,667 shares of the stock in a transaction dated Monday, November 24th. The shares were 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 $1,004,103.36. This represents a 40.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David H. Sampsell sold 22,222 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $38.38, for a total transaction of $852,880.36. Following the transaction, the vice president directly owned 31,749 shares in the company, valued at approximately $1,218,526.62. The trade was a 41.17% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 56,572 shares of company stock valued at $2,256,580. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Digi International

A number of institutional investors have recently made changes to their positions in DGII. Hillsdale Investment Management Inc. acquired a new stake in Digi International in the second quarter worth approximately $4,293,000. Geneva Capital Management LLC raised its stake in shares of 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 worth $60,322,000 after buying an additional 95,756 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Digi International by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock valued at $22,736,000 after buying an additional 46,659 shares during the period. SG Americas Securities LLC boosted its stake in Digi International by 445.3% during the third quarter. SG Americas Securities LLC now owns 30,670 shares of the technology company’s stock valued at $1,118,000 after buying an additional 25,046 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Digi International during the second quarter valued at about $768,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.