Digi International (NASDAQ:DGII – Get Rating) released its earnings results on Thursday. The technology company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12, Briefing.com reports. Digi International had a return on equity of 6.82% and a net margin of 3.53%. The firm had revenue of $104.00 million for the quarter, compared to analysts’ expectations of $96.12 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 31.5% on a year-over-year basis. Digi International updated its Q4 guidance to $0.41-0.44 EPS and its Q4 2022 guidance to $0.41-$0.44 EPS.
Digi International Stock Performance
DGII stock traded down $0.67 during trading on Friday, reaching $34.11. The stock had a trading volume of 595,480 shares, compared to its average volume of 263,423. Digi International has a 52 week low of $18.54 and a 52 week high of $35.71. The stock’s 50 day moving average is $25.17 and its two-hundred day moving average is $22.20. The company has a current ratio of 1.79, a quick ratio of 1.29 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.20 billion, a PE ratio of 94.75, a PEG ratio of 1.57 and a beta of 1.41.
Insider Buying and Selling at Digi International
In other Digi International news, VP Tracy L. Roberts sold 11,250 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $25.46, for a total value of $286,425.00. Following the transaction, the vice president now owns 53,957 shares of the company’s stock, valued at $1,373,745.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Terrence G. Schneider sold 12,631 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $21.64, for a total value of $273,334.84. Following the transaction, the vice president now owns 30,314 shares of the company’s stock, valued at $655,994.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tracy L. Roberts sold 11,250 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $25.46, for a total value of $286,425.00. Following the completion of the transaction, the vice president now directly owns 53,957 shares in the company, valued at approximately $1,373,745.22. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of research firms have recently commented on DGII. Piper Sandler increased their target price on Digi International from $30.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday. Stephens initiated coverage on Digi International in a research note on Wednesday, June 1st. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Canaccord Genuity Group increased their price objective on Digi International from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Digi International presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.
Digi International Company Profile
Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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.
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