Digi International (NASDAQ:DGII) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Digi International (NASDAQ:DGII) from a buy rating to a strong-buy rating in a research report released on Thursday.

Several other research firms have also issued reports on DGII. Craig Hallum reaffirmed a “hold” rating and issued a $32.00 price target (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Piper Sandler increased their price target on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Digi International currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Stock Up 2.0 %

Shares of Digi International stock opened at $32.25 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. The firm’s 50-day moving average is $31.63 and its two-hundred day moving average is $27.83. Digi International has a 1 year low of $20.17 and a 1 year high of $34.82. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 1.21 and a beta of 1.05.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The firm had revenue of $105.05 million during the quarter, compared to analysts’ expectations of $104.16 million. During the same period in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Digi International will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at Digi International

In other Digi International news, VP Terrence G. Schneider sold 2,808 shares of Digi International stock in a transaction on Friday, November 29th. The shares were sold at an average price of $33.06, for a total value of $92,832.48. Following the completion of the transaction, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Satbir Khanuja sold 7,000 shares of Digi International stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,329 shares of company stock worth $332,361 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Digi International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Digi International by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after buying an additional 11,239 shares in the last quarter. Captrust Financial Advisors increased its position in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after buying an additional 8,235 shares during the period. Geneva Capital Management LLC lifted its stake in shares of Digi International by 5.0% in the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock valued at $45,560,000 after purchasing an additional 79,313 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Digi International by 108.0% during the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after acquiring an additional 8,788 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Digi International

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.