Digi International (NASDAQ:DGII) Stock Rating Lowered by Wall Street Zen

Digi International (NASDAQ:DGII) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other research analysts have also commented on DGII. Roth Capital boosted their price objective on Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. B. Riley boosted their price target on shares of Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Piper Sandler increased their price target on shares of Digi International from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $45.00 in a research report on Thursday, November 13th. Finally, Stephens lifted their price objective on shares of Digi International from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, January 2nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.80.

Digi International Trading Down 3.6%

Shares of DGII opened at $40.84 on Friday. Digi International has a fifty-two week low of $22.39 and a fifty-two week high of $48.00. The business has a 50-day moving average of $41.78 and a 200 day moving average of $37.50. The firm has a market cap of $1.54 billion, a P/E ratio of 37.82 and a beta of 0.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.85 and a current ratio of 1.21.

Digi International (NASDAQ:DGII) last released its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Digi International had a net margin of 9.48% and a return on equity of 10.88%. The company had revenue of $114.34 million during the quarter, compared to the consensus estimate of $110.75 million. During the same period last year, the firm earned $0.52 EPS. Digi International’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Digi International will post 1.68 EPS for the current year.

Insider Activity at Digi International

In other Digi International news, VP Terrence G. Schneider sold 16,667 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $40.56, for a total value of $676,013.52. Following the completion of the transaction, the vice president owned 24,756 shares in the company, valued at approximately $1,004,103.36. This represents a 40.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David H. Sampsell sold 22,222 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $38.38, for a total value of $852,880.36. Following the transaction, the vice president directly owned 31,749 shares of the company’s stock, valued at $1,218,526.62. This represents a 41.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,572 shares of company stock valued at $2,256,580 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Geneva Capital Management LLC boosted its stake in Digi International by 5.9% during the second quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock worth $60,322,000 after acquiring an additional 95,756 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Digi International by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock valued at $22,736,000 after purchasing an additional 46,659 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Digi International by 47.2% during the third quarter. Hillsdale Investment Management Inc. now owns 181,255 shares of the technology company’s stock valued at $6,609,000 after purchasing an additional 58,100 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Digi International by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 107,050 shares of the technology company’s stock worth $3,732,000 after purchasing an additional 3,722 shares in the last quarter. Finally, Herald Investment Management Ltd grew its stake in shares of Digi International by 25.0% in the 3rd quarter. Herald Investment Management Ltd now owns 100,000 shares of the technology company’s stock worth $3,646,000 after buying an additional 20,000 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

About Digi International

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.