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

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

Several other equities analysts have also commented on DGII. Stephens raised their target price on shares of Digi International from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, January 2nd. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $45.00 in a research report on Thursday, November 13th. B. Riley boosted their price objective on shares of Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Digi International in a research note on Wednesday, December 24th. Finally, Roth Mkm lifted their price target on Digi International from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.80.

Digi International Price Performance

Shares of NASDAQ DGII opened at $43.07 on Friday. The stock has a market capitalization of $1.62 billion, a PE ratio of 39.88 and a beta of 0.86. 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 business has a fifty day moving average price of $43.63 and a two-hundred day moving average price of $38.34. Digi International has a fifty-two week low of $22.39 and a fifty-two week high of $48.00.

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

Insider Activity at Digi International

In related news, VP David H. Sampsell sold 8,748 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.52, for a total transaction of $363,216.96. Following the completion of the transaction, the vice president owned 31,757,255 shares of the company’s stock, valued at $1,318,561,227.60. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Terrence G. Schneider sold 4,208 shares of Digi International stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $41.68, for a total value of $175,389.44. Following the transaction, the vice president owned 24,756 shares of the company’s stock, valued at approximately $1,031,830.08. This represents a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 56,572 shares of company stock valued at $2,256,580. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Digi International

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Digi International by 2,215.1% during the 3rd 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 last quarter. Lazard Asset Management LLC lifted its stake in shares of Digi International by 25.1% in 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 in the last quarter. GAMMA Investing LLC boosted its position 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 last quarter. Farther Finance Advisors LLC boosted 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 worth $71,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Digi International by 1,530.9% during the 3rd 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 in the last quarter. 95.90% of the stock is 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.