Digi International (NASDAQ:DGII) Lowered to “Neutral” at Piper Sandler

Piper Sandler downgraded shares of Digi International (NASDAQ:DGIIFree Report) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have $29.00 target price on the technology company’s stock, down from their prior target price of $35.00.

A number of other brokerages have also recently issued reports on DGII. Stephens upped their target price on Digi International from $40.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, February 5th. Roth Mkm decreased their price objective on shares of Digi International from $40.00 to $38.00 and set a buy rating for the company in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Digi International presently has an average rating of Moderate Buy and an average price target of $36.50.

Read Our Latest Research Report on Digi International

Digi International Stock Up 0.2 %

Digi International stock opened at $24.87 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. Digi International has a 1-year low of $21.25 and a 1-year high of $42.95. The firm’s fifty day simple moving average is $29.27 and its 200-day simple moving average is $27.32. The company has a market capitalization of $904.77 million, a P/E ratio of 65.45, a P/E/G ratio of 0.83 and a beta of 1.22.

Digi International (NASDAQ:DGIIGet Free Report) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $107.70 million for the quarter, compared to analyst estimates of $106.97 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. Sell-side analysts forecast that Digi International will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after acquiring an additional 839 shares during the period. YHB Investment Advisors Inc. acquired a new stake in Digi International in the 1st quarter worth $33,000. Quantbot Technologies LP increased its holdings in shares of Digi International by 76.8% during the 3rd quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company’s stock worth $47,000 after purchasing an additional 761 shares during the period. NBC Securities Inc. acquired a new position in shares of Digi International during the first quarter valued at about $78,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Digi International in the first quarter valued at about $139,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Digi International Company Profile

(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.

Further Reading

Receive News & Ratings for Digi International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digi International and related companies with MarketBeat.com's FREE daily email newsletter.