Digi International (NASDAQ:DGII) Downgraded by Wall Street Zen to “Buy”

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

DGII has been the subject of a number of other research reports. B. Riley boosted their price target on Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Craig Hallum raised shares of Digi International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $45.00 in a research note on Thursday, November 13th. Roth Capital upped their target price on Digi International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Stephens raised their price target 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Digi International in a research note on Wednesday, December 24th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.80.

Digi International Stock Down 3.6%

DGII stock opened at $40.84 on Friday. The company has a market cap of $1.54 billion, a PE ratio of 37.82 and a beta of 0.86. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. Digi International has a 52 week low of $22.39 and a 52 week high of $48.00. The business has a 50-day simple moving average of $41.78 and a 200 day simple moving average of $37.46.

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, November 12th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $114.34 million for the quarter, compared to analyst estimates of $110.75 million. Digi International had a net margin of 9.48% and a return on equity of 10.88%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Digi International will post 1.68 EPS for the current fiscal year.

Insider Activity at Digi International

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

Institutional Investors Weigh In On Digi International

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

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.