Digi International (NASDAQ:DGII) Downgraded to Hold Rating by Zacks Research

Digi International (NASDAQ:DGII) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on DGII. Craig Hallum upped their price objective on shares of Digi International from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Roth Capital reissued a “buy” rating and issued a $70.00 target price on shares of Digi International in a research report on Thursday, May 7th. Piper Sandler raised their price target on shares of Digi International from $46.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings raised Digi International from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Finally, Stephens raised their target price on shares of Digi International from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Digi International has a consensus rating of “Moderate Buy” and an average target price of $66.20.

Digi International Stock Performance

Digi International stock opened at $72.14 on Monday. Digi International has a twelve month low of $30.69 and a twelve month high of $76.41. The company has a market cap of $2.72 billion, a PE ratio of 63.84 and a beta of 0.97. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $68.48 and its 200-day moving average price is $57.65.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $130.74 million for the quarter, compared to the consensus estimate of $125.03 million. Digi International had a return on equity of 11.28% and a net margin of 9.10%.The company’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, equities research analysts forecast that Digi International will post 2.11 EPS for the current fiscal year.

Insider Activity

In related news, VP Terrence G. Schneider sold 14,182 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $65.61, for a total value of $930,481.02. Following the transaction, the vice president owned 26,759 shares of the company’s stock, valued at $1,755,657.99. This represents a 34.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James E. Freeland sold 450 shares of Digi International stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $68.00, for a total value of $30,600.00. Following the sale, the vice president directly owned 19,219 shares of the company’s stock, valued at $1,306,892. This trade represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 121,008 shares of company stock worth $8,320,222. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Digi International

Several institutional investors have recently modified their holdings of DGII. Ameriprise Financial Inc. grew its position in shares of Digi International by 7.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock valued at $22,736,000 after buying an additional 46,659 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Digi International by 3.4% during the first quarter. Hillsdale Investment Management Inc. now owns 199,635 shares of the technology company’s stock worth $9,622,000 after purchasing an additional 6,480 shares during the last quarter. Leuthold Group LLC increased its position in shares of Digi International by 0.5% during the fourth quarter. Leuthold Group LLC now owns 56,738 shares of the technology company’s stock worth $2,456,000 after purchasing an additional 264 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Digi International in the 4th quarter valued at about $2,410,000. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of Digi International by 65.0% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 47,468 shares of the technology company’s stock valued at $2,055,000 after purchasing an additional 18,706 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.