Digi International Inc. (NASDAQ:DGII – Free Report) shares rose before the market open on Thursday following a better-than-expected earnings report. The stock had previously closed at $23.20 but opened at $25.23. Digi International shares last traded at $25.52, with trading volume of 13,392 shares.
The technology company reported earnings per share of $0.50 for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $105.20 million for the quarter, compared to analyst expectations of $105.60 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. The company’s quarterly revenue declined 6.3% year-over-year. During the same period last year, the company generated earnings per share of $0.44.
Upgrades and downgrades by analysts
DGII has been the subject of a number of research analyst reports. StockNews.com upgraded Digi International from a “hold” rating to a “buy” rating in a research report on Saturday, June 15. Roth Mkm decreased their price target on Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, May 3. Piper Sandler decreased their price target on Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Craig Hallum decreased his price target on Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a “hold” rating and five have given the company a “buy” rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.20.
Get our latest report on Digi International
Institutional inflows and outflows
Several institutional investors and hedge funds have recently added to or reduced their holdings of the stock. GAMMA Investing LLC increased its position in shares of Digi International by 687.7% in the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after purchasing an additional 839 shares during the same period. YHB Investment Advisors Inc. acquired a new position in shares of Digi International during the first quarter valued at about $33,000. NBC Securities Inc. acquired a new position in shares of Digi International during the first quarter valued at about $78,000. SG Americas Securities LLC increased its position in shares of Digi International by 92.5% in the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares during the same period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Digi International during the first quarter valued at approximately $139,000. Hedge funds and other institutional investors own 95.90% of the company’s shares.
Digi International shares down 1.3%
The company has a 50-day moving average of $23.84 and a 200-day moving average of $27.09. The company has a market cap of $990.13 million, a P/E ratio of 71.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28.
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 and Services and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules for embedding cellular capabilities into the products to deploy and manage intelligent and secure cellular-connected products; console servers for secure and remote access to network devices in data centers and edge locations; and radio frequency products, including embedded wireless modules, commercial-grade gateways, modems and adapters under the Digi XBee brand.
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