Digi International (NASDAQ:DGII) Issues Quarterly Earnings Results

Digi International (NASDAQ:DGII) posted its earnings results on Wednesday. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07), Zacks reports. Digi International had a net margin of 5.31% and a return on equity of 11.24%.

Digi International Price Performance

DGII stock traded up $0.02 during trading hours on Wednesday, hitting $30.41. 301,937 shares of the stock traded hands, compared to its average volume of 202,497. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $31.28 and a 200 day simple moving average of $29.59. Digi International has a one year low of $20.17 and a one year high of $34.82. The company has a market cap of $1.12 billion, a P/E ratio of 49.85, a P/E/G ratio of 1.11 and a beta of 1.06.

Insider Buying and Selling at Digi International

In other news, VP Terrence G. Schneider sold 2,808 shares of Digi International stock in a transaction that occurred 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 transaction, the vice president now directly owns 39,002 shares of the company’s stock, valued at $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $31.76, for a total transaction of $222,320.00. Following the completion of the sale, the director now owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,329 shares of company stock valued at $332,361. 3.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on DGII. Piper Sandler boosted their price objective on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum reissued a “hold” rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Finally, StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Digi International presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

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.