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

Digi International (NASDAQ:DGII) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

Several other research firms have also commented on DGII. Craig Hallum reiterated a “hold” rating and set a $32.00 price target (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Piper Sandler boosted their target price on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Stock Down 4.7 %

Shares of NASDAQ DGII opened at $30.74 on Thursday. The stock has a market cap of $1.13 billion, a PE ratio of 50.39, a P/E/G ratio of 1.21 and a beta of 1.05. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. Digi International has a 12-month low of $20.17 and a 12-month high of $34.82. The company has a 50-day moving average of $31.66 and a 200 day moving average of $27.88.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Digi International will post 1.65 EPS for the current fiscal year.

Insider Transactions at Digi International

In related news, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the transaction, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 directly owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,329 shares of company stock worth $332,361. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Digi International

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after acquiring an additional 3,911 shares during the period. Bank of New York Mellon Corp increased its holdings in Digi International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock worth $7,172,000 after purchasing an additional 6,534 shares during the period. Rhumbline Advisers raised its position in Digi International by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 7,208 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Digi International in the 2nd quarter valued at about $498,000. Finally, Geneva Capital Management LLC grew its position in shares of Digi International by 5.0% during the third quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after buying an additional 79,313 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.