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

Digi International Inc. (NASDAQ:DGII) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $34.20.

A number of equities research analysts recently weighed in on the company. Craig Hallum dropped their price target on Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of Digi International from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Piper Sandler reduced their target price on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Institutional Investors Weigh In On Digi International

A number of institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC boosted its holdings in Digi International by 20.9% in the 1st quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after purchasing an additional 291,618 shares during the period. Summit Creek Advisors LLC grew its position in Digi International by 13.9% during the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after buying an additional 41,392 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Digi International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after acquiring an additional 6,534 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Digi International by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after acquiring an additional 7,208 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Digi International by 216.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after purchasing an additional 62,402 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Digi International Stock Performance

Shares of DGII opened at $26.63 on Thursday. The company has a market cap of $968.67 million, a PE ratio of 70.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The firm has a 50-day moving average of $26.82 and a 200-day moving average of $26.99. Digi International has a one year low of $20.17 and a one year high of $32.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.31.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $105.60 million. Digi International had a return on equity of 11.32% and a net margin of 3.94%. Digi International’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. As a group, equities analysts forecast that Digi International will post 1.67 earnings per share for the current year.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.