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

Shares of Digi International Inc. (NASDAQ:DGII) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $48.80.

DGII has been the subject of a number of analyst reports. Craig Hallum raised Digi International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $45.00 in a research report on Thursday, November 13th. Stephens boosted their price target on shares of Digi International from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, January 2nd. B. Riley increased 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. Piper Sandler raised their price objective on shares of Digi International from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Insider Activity

In related news, VP Terrence G. Schneider sold 16,667 shares of the company’s stock in a transaction that occurred 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 directly owned 24,756 shares of the company’s stock, valued at $1,004,103.36. This represents a 40.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David H. Sampsell sold 22,222 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president owned 31,749 shares in the company, 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. Over the last ninety days, insiders have sold 56,572 shares of company stock valued at $2,256,580. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new stake in shares of Digi International in the second quarter valued at approximately $4,293,000. Geneva Capital Management LLC raised its position in 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 valued at $60,322,000 after purchasing an additional 95,756 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Digi International by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock worth $22,736,000 after purchasing an additional 46,659 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Digi International during the 4th quarter worth $2,000,000. Finally, SG Americas Securities LLC grew its position in Digi International by 445.3% during the 3rd quarter. SG Americas Securities LLC now owns 30,670 shares of the technology company’s stock worth $1,118,000 after purchasing an additional 25,046 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Stock Performance

Shares of DGII stock opened at $45.00 on Thursday. The firm has a 50 day moving average of $43.71 and a two-hundred day moving average of $38.50. The stock has a market capitalization of $1.69 billion, a PE ratio of 41.67 and a beta of 0.85. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. Digi International has a 52 week low of $22.39 and a 52 week high of $48.00.

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

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.