Digi International (NASDAQ:DGII) Releases Q4 Earnings Guidance

Digi International (NASDAQ:DGIIGet 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.

Digi International (NASDAQ:DGIIGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The technology company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12. Digi International had a return on equity of 6.82% and a net margin of 3.53%. The company had revenue of $104.00 million for the quarter, compared to the consensus estimate of $96.12 million. During the same quarter last year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. As a group, equities analysts anticipate that Digi International will post 1.3 earnings per share for the current fiscal year.

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

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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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