Digi International (NASDAQ:DGII) Raised to “Strong-Buy” at Wall Street Zen

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

A number of other equities research analysts have also weighed in on the company. Craig Hallum raised Digi International from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $45.00 in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Digi International in a research note on Wednesday, December 24th. Stephens upped their price objective on Digi International from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, January 2nd. Zacks Research cut shares of Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Roth Mkm increased their target price on shares of Digi International from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.80.

Digi International Stock Down 4.9%

Shares of NASDAQ DGII opened at $43.07 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.85. The firm has a 50-day simple moving average of $43.63 and a two-hundred day simple moving average of $38.42. Digi International has a 1 year low of $22.39 and a 1 year high of $48.00. The company has a market cap of $1.62 billion, a P/E ratio of 39.88 and a beta of 0.85.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $114.34 million during the quarter, compared to analysts’ expectations of $110.75 million. Digi International had a return on equity of 10.88% and a net margin of 9.48%.Digi International’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Research analysts anticipate that Digi International will post 1.68 earnings per share for the current year.

Insider Activity

In other news, VP David H. Sampsell sold 8,748 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $41.52, for a total value of $363,216.96. Following the transaction, the vice president directly owned 31,757,255 shares of the company’s stock, valued at approximately $1,318,561,227.60. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terrence G. Schneider sold 4,208 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $41.68, for a total transaction of $175,389.44. Following the completion of the transaction, the vice president owned 24,756 shares in the company, valued at approximately $1,031,830.08. This trade represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 56,572 shares of company stock worth $2,256,580. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its holdings in Digi International by 2,215.1% in the third quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,174 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Digi International by 25.1% during the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock worth $58,000 after acquiring an additional 339 shares during the period. GAMMA Investing LLC grew its holdings in Digi International by 67.8% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock worth $59,000 after acquiring an additional 685 shares during the period. Farther Finance Advisors LLC raised its position in Digi International by 5,263.2% during the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Digi International by 1,530.9% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock valued at $123,000 after acquiring an additional 3,169 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Digi International Company Profile

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.