Digi International (NASDAQ:DGII) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Digi International (NASDAQ:DGII) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other equities analysts have also recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of Digi International in a research report on Thursday, February 6th. Piper Sandler reduced their target price on Digi International from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Digi International presently has an average rating of “Moderate Buy” and an average price target of $35.25.

Digi International Price Performance

Shares of NASDAQ DGII opened at $25.15 on Tuesday. The business has a 50 day moving average price of $30.01 and a two-hundred day moving average price of $30.52. Digi International has a fifty-two week low of $20.17 and a fifty-two week high of $37.07. The firm has a market cap of $928.01 million, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. Sell-side analysts expect that Digi International will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digi International

A number of institutional investors have recently modified their holdings of the business. New Age Alpha Advisors LLC acquired a new position in Digi International in the fourth quarter valued at approximately $1,400,000. Ameriprise Financial Inc. lifted its holdings in shares of Digi International by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company’s stock worth $10,880,000 after purchasing an additional 29,026 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Digi International by 2,467.2% in the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock worth $783,000 after purchasing an additional 27,040 shares during the last quarter. Geode Capital Management LLC boosted its position in Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after purchasing an additional 11,239 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after buying an additional 8,235 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Digi International Company Profile

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.