Digi International (NASDAQ:DGII) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Digi International (NASDAQ:DGII) from a buy rating to a strong-buy rating in a report issued on Thursday.

DGII has been the subject of several other research reports. Piper Sandler boosted their price target on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Craig Hallum reissued a “hold” rating and issued a $32.00 target price (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Trading Down 4.7 %

NASDAQ:DGII opened at $30.74 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. Digi International has a 1-year low of $20.17 and a 1-year high of $34.82. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 1.21 and a beta of 1.05. The business’s 50-day moving average price is $31.66 and its two-hundred day moving average price is $27.91.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $105.05 million for the quarter, compared to the consensus estimate of $104.16 million. Digi International had a net margin of 5.31% and a return on equity of 11.24%. Digi International’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. On average, equities analysts expect that Digi International will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other Digi International news, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total transaction of $222,320.00. Following the completion of the transaction, the director now owns 83,255 shares of the company’s stock, valued at $2,644,178.80. This represents a 7.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Terrence G. Schneider sold 2,808 shares of Digi International stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $33.06, for a total transaction of $92,832.48. Following the completion of the sale, the vice president now owns 39,002 shares in the company, valued at $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,329 shares of company stock valued at $332,361. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Digi International

A number of large investors have recently modified their holdings of DGII. Geneva Capital Management LLC increased its position in shares of Digi International by 5.0% in the third quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock valued at $45,560,000 after acquiring an additional 79,313 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Digi International during the 2nd quarter worth approximately $498,000. Geode Capital Management LLC raised its stake in shares of Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after purchasing an additional 11,239 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after buying an additional 8,788 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Digi International by 51.8% in the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after buying an additional 8,235 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.