Craig Hallum Reiterates Hold Rating for Digi International (NASDAQ:DGII)

Craig Hallum reaffirmed their hold rating on shares of Digi International (NASDAQ:DGII) in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have a $32.00 price objective on the technology company’s stock, up from their prior price objective of $28.00.

Separately, Piper Sandler reduced their price objective on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Digi International presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Trading Down 0.9 %

Digi International stock opened at $31.41 on Thursday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 51.49, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. Digi International has a 1 year low of $20.17 and a 1 year high of $34.08. The firm’s 50 day moving average price is $29.14 and its two-hundred day moving average price is $26.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.31 and a current ratio of 1.73.

Digi International (NASDAQ:DGII) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share (EPS) 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 business had revenue of $105.05 million for the quarter, compared to analysts’ expectations of $104.16 million. During the same period in the previous year, the firm posted $0.44 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts predict that Digi International will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors lifted its stake in Digi International by 13.5% in the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after acquiring an additional 2,418 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Digi International by 92.5% in the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Digi International by 2.1% in the second 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 in the last quarter. Rhumbline Advisers boosted its holdings in shares of Digi International by 6.7% during the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after purchasing an additional 7,208 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after purchasing an additional 8,235 shares in 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.