Digi International (NASDAQ:DGII) Downgraded to Neutral at Piper Sandler

Digi International (NASDAQ:DGIIGet Free Report) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $29.00 target price on the technology company’s stock, down from their previous target price of $35.00. Piper Sandler’s target price suggests a potential upside of 16.79% from the company’s current price.

A number of other brokerages have also commented on DGII. Roth Mkm cut their price target on Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Stephens upped their price target on shares of Digi International from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Read Our Latest Report on Digi International

Digi International Trading Down 4.2 %

Shares of DGII stock opened at $24.83 on Wednesday. Digi International has a fifty-two week low of $21.25 and a fifty-two week high of $42.95. The stock’s fifty day moving average price is $29.44 and its two-hundred day moving average price is $27.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 2.05. The company has a market cap of $903.32 million, a PE ratio of 65.34, a P/E/G ratio of 0.86 and a beta of 1.22.

Digi International (NASDAQ:DGIIGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Digi International had a net margin of 3.20% and a return on equity of 11.61%. The business had revenue of $107.70 million during the quarter, compared to the consensus estimate of $106.97 million. Equities analysts predict that Digi International will post 1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC lifted its holdings in Digi International by 50.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company’s stock valued at $36,297,000 after buying an additional 465,382 shares during the period. New York State Common Retirement Fund raised its position in shares of Digi International by 44.4% in the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after acquiring an additional 208,204 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Digi International by 36.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock valued at $14,229,000 after purchasing an additional 139,720 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Digi International by 1,814.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after purchasing an additional 54,746 shares in the last quarter. Finally, Summit Creek Advisors LLC grew its stake in Digi International by 16.5% during the fourth quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock worth $7,733,000 after purchasing an additional 42,179 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Digi International

(Get Free Report)

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.

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