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

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

DGII has been the subject of several other reports. Stephens increased their price objective on Digi International from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Roth Capital reiterated a “buy” rating and issued a $70.00 price objective on shares of Digi International in a report on Thursday, May 7th. Craig Hallum increased their price target on Digi International from $50.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings raised Digi International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Piper Sandler raised their price objective on shares of Digi International from $46.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.20.

Digi International Trading Up 2.5%

Digi International stock opened at $72.14 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.77 and a current ratio of 1.11. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 63.84 and a beta of 0.97. The firm’s 50 day moving average price is $68.48 and its two-hundred day moving average price is $57.65. Digi International has a 1 year low of $30.69 and a 1 year high of $76.41.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $130.74 million during the quarter, compared to analyst estimates of $125.03 million. Digi International had a return on equity of 11.28% and a net margin of 9.10%.Digi International’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. On average, research analysts predict that Digi International will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP David H. Sampsell sold 6,376 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.11, for a total value of $415,141.36. Following the sale, the vice president owned 18,364 shares in the company, valued at approximately $1,195,680.04. The trade was a 25.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James J. Loch sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $69.44, for a total transaction of $6,944,000.00. Following the completion of the transaction, the chief financial officer owned 167,589 shares in the company, valued at approximately $11,637,380.16. This trade represents a 37.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 121,008 shares of company stock valued at $8,320,222 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Digi International

Several hedge funds have recently modified their holdings of DGII. USA Financial Formulas boosted its position in Digi International by 109.3% in the 1st quarter. USA Financial Formulas now owns 946 shares of the technology company’s stock valued at $46,000 after buying an additional 494 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Digi International by 25.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock valued at $58,000 after buying an additional 339 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Digi International by 1,530.9% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock worth $123,000 after acquiring an additional 3,169 shares in the last quarter. GAMMA Investing LLC raised its holdings in Digi International by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,576 shares of the technology company’s stock worth $193,000 after buying an additional 374 shares during the period. Finally, FourThought Financial Partners LLC acquired a new stake in shares of Digi International during the fourth quarter worth $204,000. 95.90% of the stock is owned by 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.