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

by · The Markets Daily

Zacks Research downgraded shares of Digi International (NASDAQ:DGII – Free Report) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on DGII. Weiss Ratings reissued a “hold (c+)” rating on shares of Digi International in a research report on Wednesday, December 24th. Piper Sandler raised their price target on shares of Digi International from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Roth Capital boosted their price objective on shares of Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Stephens increased their target price on shares of Digi International from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd. Finally, B. Riley boosted their price target on Digi International from $45.00 to $48.00 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.80.

Read Our Latest Report on Digi International

Digi International Stock Performance

NASDAQ:DGII traded down $0.22 during midday trading on Monday, reaching $42.47. The stock had a trading volume of 27,615 shares, compared to its average volume of 236,238. The stock has a market capitalization of $1.60 billion, a P/E ratio of 39.24 and a beta of 0.86. The firm’s fifty day simple moving average is $42.03 and its 200-day simple moving average is $37.61. Digi International has a 1-year low of $22.39 and a 1-year high of $48.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.85.

Digi International (NASDAQ:DGII – Get Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The business 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%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. On average, equities research analysts forecast that Digi International will post 1.68 EPS for the current fiscal year.

Insider Transactions at Digi International

In other Digi International news, VP Terrence G. Schneider sold 16,667 shares of Digi International stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $40.56, for a total transaction of $676,013.52. Following the sale, the vice president directly owned 24,756 shares of the company’s stock, valued at approximately $1,004,103.36. The trade was a 40.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David H. Sampsell sold 22,222 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $38.38, for a total value of $852,880.36. Following the completion of the transaction, the vice president directly owned 31,749 shares of the company’s stock, valued at approximately $1,218,526.62. The trade was a 41.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 56,572 shares of company stock valued at $2,256,580. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Digi International

Several institutional investors and hedge funds have recently made changes to their positions in DGII. Geneva Capital Management LLC increased its position in shares of Digi International by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock worth $60,322,000 after purchasing an additional 95,756 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Digi International by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock valued at $22,736,000 after acquiring an additional 46,659 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Digi International by 47.2% in the third quarter. Hillsdale Investment Management Inc. now owns 181,255 shares of the technology company’s stock valued at $6,609,000 after acquiring an additional 58,100 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Digi International by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 107,050 shares of the technology company’s stock worth $3,732,000 after acquiring an additional 3,722 shares in the last quarter. Finally, Herald Investment Management Ltd grew its position in Digi International by 25.0% during the 3rd quarter. Herald Investment Management Ltd now owns 100,000 shares of the technology company’s stock worth $3,646,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Digi International

(Get Free Report)

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.

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