Digi International Inc. (NASDAQ:DGII) Given Average Recommendation of “Moderate Buy” by Analysts

Digi International Inc. (NASDAQ:DGII) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $48.80.

DGII has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Digi International from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 10th. Craig Hallum upgraded Digi International from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $45.00 in a research note on Thursday, November 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Digi International in a research note on Wednesday, December 24th. B. Riley increased their price objective on Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Piper Sandler raised their price objective on Digi International from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th.

Digi International Trading Up 3.0%

Shares of NASDAQ:DGII opened at $44.90 on Thursday. The business’s 50-day moving average is $43.43 and its 200 day moving average is $38.22. 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 1 year low of $22.39 and a 1 year high of $48.00. The firm has a market capitalization of $1.69 billion, a P/E ratio of 41.57 and a beta of 0.86.

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

Insider Buying and Selling

In other news, VP Terrence G. Schneider sold 16,667 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.56, for a total value of $676,013.52. Following the sale, the vice president owned 24,756 shares in the company, valued at $1,004,103.36. This represents a 40.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David H. Sampsell sold 22,222 shares of the business’s stock in a transaction on 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 owned 31,749 shares of the company’s stock, valued at $1,218,526.62. This represents a 41.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,572 shares of company stock valued at $2,256,580 over the last three months. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Digi International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its holdings in shares of Digi International by 25.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock valued at $58,000 after buying an additional 339 shares during the period. Amalgamated Bank raised its position in Digi International by 3.6% during the third quarter. Amalgamated Bank now owns 10,894 shares of the technology company’s stock valued at $397,000 after acquiring an additional 380 shares in the last quarter. GAMMA Investing LLC raised 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 valued at $59,000 after acquiring an additional 685 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Digi International by 2,215.1% in the third quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,174 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its position in Digi International by 20.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the technology company’s stock worth $272,000 after purchasing an additional 1,300 shares in the last quarter. 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.