Digi International (NASDAQ:DGII) Stock Rating Upgraded by Wall Street Zen

Digi International (NASDAQ:DGII) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on DGII. Stephens upped their price target on Digi International from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, January 2nd. Piper Sandler boosted their target price on shares of Digi International from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Zacks Research lowered shares of Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Craig Hallum raised shares of Digi International from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $45.00 in a report on Thursday, November 13th. Finally, Roth Mkm upped their price objective 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. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.80.

Digi International Stock Down 4.9%

Shares of DGII stock opened at $43.07 on Friday. Digi International has a one year low of $22.39 and a one year high of $48.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.85. The stock has a fifty day moving average price of $43.63 and a 200 day moving average price of $38.34. The stock has a market cap of $1.62 billion, a P/E ratio of 39.88 and a beta of 0.86.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $110.75 million. During the same quarter in the prior year, the company posted $0.52 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Analysts predict that Digi International will post 1.68 earnings per share for the current year.

Insider Activity

In other Digi International news, VP Terrence G. Schneider sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $40.56, for a total transaction of $676,013.52. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David H. Sampsell sold 22,222 shares of the business’s 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 represents a 41.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,572 shares of company stock worth $2,256,580. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of Digi International by 2,215.1% during the third quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock worth $45,000 after buying an additional 1,174 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Digi International by 25.1% in the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock valued at $58,000 after acquiring an additional 339 shares in the last quarter. GAMMA Investing LLC increased its position in Digi International by 67.8% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock worth $59,000 after acquiring an additional 685 shares during the period. Farther Finance Advisors LLC raised its stake in Digi International by 5,263.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock worth $71,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Digi International by 1,530.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock worth $123,000 after purchasing an additional 3,169 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.