Digi International (NASDAQ:DGII) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Digi International's stock has been reaffirmed with a "hold (c)" rating by Weiss Ratings, while other analysts maintain a mix of "buy" and "overweight" ratings, with a consensus target price of $38.75.
• The company reported $0.53 earnings per share for the last quarter, exceeding analysts' estimates of $0.51, along with a revenue of $107.51 million, which also surpassed expectations.
• Institutional investors hold 95.90% of Digi International's stock, with significant stakes recently increased by various firms, indicating strong institutional interest and support in the company's prospects.

Digi International (NASDAQ:DGII - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Roth Capital reiterated a "buy" rating on shares of Digi International in a research note on Thursday, August 7th. Stephens reiterated an "overweight" rating and issued a $50.00 target price on shares of Digi International in a research note on Tuesday, August 19th. Piper Sandler boosted their target price on shares of Digi International from $30.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, B. Riley boosted their target price on shares of Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Digi International presently has an average rating of "Moderate Buy" and a consensus target price of $38.75.

Digi International Stock Performance

DGII traded up $1.07 during midday trading on Wednesday, reaching $36.56. The company had a trading volume of 137,441 shares, compared to its average volume of 225,103. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.03 and a current ratio of 1.43. The stock has a market cap of $1.36 billion, a PE ratio of 32.07, a P/E/G ratio of 1.14 and a beta of 0.95. Digi International has a 12-month low of $22.39 and a 12-month high of $38.64. The business has a 50-day moving average price of $34.77 and a two-hundred day moving average price of $32.42.

Digi International (NASDAQ:DGII - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $107.51 million for the quarter, compared to analysts' expectations of $106.23 million. Digi International had a net margin of 10.14% and a return on equity of 10.96%. The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. On average, sell-side analysts expect that Digi International will post 1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DGII. Lazard Asset Management LLC increased its stake 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 worth $58,000 after acquiring an additional 339 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Digi International by 67.8% in the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company's stock worth $59,000 after buying an additional 685 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Digi International by 5,263.2% during the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company's stock valued at $71,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC purchased a new position in Digi International during the second quarter valued at approximately $196,000. Finally, KLP Kapitalforvaltning AS lifted its holdings in Digi International by 20.0% during the second quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the technology company's stock valued at $272,000 after purchasing an additional 1,300 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.

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