Digi International (NASDAQ:DGII) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Digi International (NASDAQ:DGII) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

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

Digi International Stock Up 2.4%

Shares of NASDAQ:DGII opened at $41.82 on Friday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 38.72 and a beta of 0.86. Digi International has a 12 month low of $22.39 and a 12 month high of $48.00. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $41.89 and a 200 day moving average price of $37.55.

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

Insider Buying and Selling

In other Digi International news, VP Terrence G. Schneider sold 4,208 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $41.68, for a total value of $175,389.44. Following the completion of the sale, the vice president directly owned 24,756 shares in the company, valued at approximately $1,031,830.08. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David H. Sampsell sold 8,748 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $41.52, for a total value of $363,216.96. Following the transaction, the vice president directly owned 31,757,255 shares in the company, valued at $1,318,561,227.60. The trade was a 0.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,572 shares of company stock valued at $2,256,580 in the last quarter. 3.40% of the stock is owned by company insiders.

Institutional Trading of Digi International

A number of hedge funds have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC grew its holdings in 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 acquiring an additional 95,756 shares in the last quarter. Ameriprise Financial Inc. lifted 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 worth $22,736,000 after purchasing an additional 46,659 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Digi International by 47.2% during the third quarter. Hillsdale Investment Management Inc. now owns 181,255 shares of the technology company’s stock valued at $6,609,000 after purchasing an additional 58,100 shares in the last quarter. Rhumbline Advisers increased its holdings in Digi International by 3.6% during the second quarter. Rhumbline Advisers now owns 107,050 shares of the technology company’s stock valued at $3,732,000 after buying an additional 3,722 shares during the period. Finally, Herald Investment Management Ltd increased its holdings in Digi International by 25.0% during the third quarter. Herald Investment Management Ltd now owns 100,000 shares of the technology company’s stock valued at $3,646,000 after buying an additional 20,000 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.