Digi International (NASDAQ:DGII – Get Rating) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.41-0.44 for the period, compared to the consensus estimate of $0.38. The company issued revenue guidance of $98-102 million, compared to the consensus revenue estimate of $99.45 million. Digi International also updated its Q4 2022 guidance to $0.41-$0.44 EPS.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Digi International from $30.00 to $41.00 and gave the company a buy rating in a research report on Friday. Stephens began coverage on shares of Digi International in a research note on Wednesday, June 1st. They set an overweight rating and a $36.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Digi International from $30.00 to $45.00 and gave the company an overweight rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Digi International currently has a consensus rating of Moderate Buy and a consensus target price of $35.50.
Digi International Stock Down 1.9 %
DGII traded down $0.67 during midday trading on Friday, hitting $34.11. 595,480 shares of the company’s stock traded hands, compared to its average volume of 263,423. The company has a market cap of $1.20 billion, a PE ratio of 94.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41. The stock’s fifty day simple moving average is $25.17 and its 200-day simple moving average is $22.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.79 and a quick ratio of 1.29. Digi International has a one year low of $18.54 and a one year high of $35.71.
Insider Buying and Selling at Digi International
In other news, VP Terrence G. Schneider sold 12,631 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $21.64, for a total value of $273,334.84. Following the sale, the vice president now owns 30,314 shares in the company, valued at $655,994.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Digi International news, VP Terrence G. Schneider sold 12,631 shares of Digi International stock in a transaction on Monday, May 16th. The shares were sold at an average price of $21.64, for a total transaction of $273,334.84. Following the sale, the vice president now owns 30,314 shares in the company, valued at $655,994.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tracy L. Roberts sold 11,250 shares of Digi International stock in a transaction on Monday, June 6th. The stock was sold at an average price of $25.46, for a total transaction of $286,425.00. Following the sale, the vice president now owns 53,957 shares in the company, valued at approximately $1,373,745.22. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
Institutional Investors Weigh In On Digi International
A number of institutional investors have recently bought and sold shares of DGII. Lazard Asset Management LLC lifted its holdings in shares of Digi International by 61.9% during the first quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock valued at $93,000 after acquiring an additional 1,663 shares during the period. US Bancorp DE raised its holdings in shares of Digi International by 13.3% in the first quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock valued at $272,000 after buying an additional 1,491 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Digi International by 58.5% in the first quarter. MetLife Investment Management LLC now owns 18,052 shares of the technology company’s stock valued at $388,000 after buying an additional 6,662 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Digi International by 2.9% in the first quarter. Rhumbline Advisers now owns 97,635 shares of the technology company’s stock worth $2,101,000 after purchasing an additional 2,711 shares during the period. Institutional investors and hedge funds own 86.21% of the company’s stock.
Digi International Company Profile
Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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.
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