Digi International (NASDAQ:DGII) Downgraded by Piper Sandler

Piper Sandler lowered shares of Digi International (NASDAQ:DGII) from an overweight rating to a neutral rating in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $29.00 target price on the technology company’s stock, down from their previous target price of $35.00.

A number of other analysts have also issued reports on the company. Roth Mkm decreased their price objective on Digi International from $40.00 to $38.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Stephens boosted their price objective on Digi International from $40.00 to $45.00 and gave the company an overweight rating in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Digi International currently has an average rating of Moderate Buy and an average price target of $36.50.

Digi International Stock Up 0.2 %

Shares of NASDAQ DGII opened at $24.87 on Wednesday. Digi International has a one year low of $21.25 and a one year high of $42.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28. The business’s fifty day moving average price is $29.36 and its 200-day moving average price is $27.30. The stock has a market capitalization of $904.77 million, a PE ratio of 65.45, a P/E/G ratio of 0.85 and a beta of 1.22.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Digi International had a return on equity of 11.61% and a net margin of 3.20%. The firm had revenue of $107.70 million for the quarter, compared to analysts’ expectations of $106.97 million. On average, equities research analysts anticipate that Digi International will post 1.8 EPS for the current year.

Hedge Funds Weigh In On Digi International

A number of institutional investors have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC increased its stake in Digi International by 50.0% in the 4th quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company’s stock worth $36,297,000 after acquiring an additional 465,382 shares during the last quarter. New York State Common Retirement Fund increased its stake in Digi International by 44.4% in the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after acquiring an additional 208,204 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Digi International by 36.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock worth $14,229,000 after purchasing an additional 139,720 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Digi International by 1,814.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after purchasing an additional 54,746 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its holdings in shares of Digi International by 16.5% in the 4th quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock worth $7,733,000 after purchasing an additional 42,179 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.