Digi International (NASDAQ:DGII) Downgraded to ‘Neutral’ by Piper Sandler

Piper Sandler lowered the company’s shares Digi International (NASDAQ:DGII – Free Report) from an overweight rating to a neutral rating in a research report released Wednesday morning, Marketbeat.com reports. The brokerage now has a price target of $29.00 for the technology company’s stock, up from the previous price target of $35.00.

A number of other research firms have also recently commented on DGII. Roth Mkm lowered their target price on shares of Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 3. Stephens increased their price target on shares of Digi International from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. Two analysts rated the company with a hold rating and three with a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $36.50.

View our latest stock report on Digi International

Digi International stock performance

NASDAQ DGII shares opened at $25.91 on Wednesday. The market capitalization of the company’s shares is USD 942.48 million, the P/E ratio is 68.18, the P/E/G ratio is 0.87, and the beta coefficient is 1.22. The company’s 50-day moving average price is $29.52 and its two-hundred-day moving average price is $27.33. Digi International has a 52-week low of $21.25 and a 52-week high of $42.95. The company has a quick ratio of 1.28, a current ratio of 2.05 and a debt to equity ratio of 0.31.

Digi International (NASDAQ:DGII – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.41 earnings per share (EPS) for the quarter, which topped the consensus estimate of $0.40 by $0.01. The company’s revenue for the quarter was $107.70 million, compared to the consensus estimate of $106.97 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. As a group, sell-side analysts forecast that Digi International will post 1.8 earnings per share for the current year.

Hedge funds criticize Digi International

Large investors have been buying and selling shares of the company recently. Geneva Capital Management LLC increased its holdings in shares of Digi International by 20.9% during the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock worth $53,887,000 after acquiring an additional 291,618 shares in the last quarter. The New York State Common Retirement Fund grew 44.4% in the third quarter at Digi International. The New York State Retirement Fund now owns 676,652 shares of the technology company’s stock valued at $18,270,000 after purchasing an additional 208,204 shares during the period. In the third quarter, Fort Washington Investment Advisors Inc. OH increased its stake in Digi International by 36.1%. 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 in the last quarter. Summit Creek Advisors LLC increased its position in shares of Digi International by 13.9% during the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after purchasing an additional 41,392 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Digi International by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after purchasing an additional 502 shares in the last quarter. Institutional investors and hedge funds hold 95.90% of the company’s shares.

Digi’s international profile

(Get the free report)

Digi International Inc delivers business-critical Internet of Things (IoT) products, services and solutions in the United States, Europe, the Middle East, Africa and around the world. The company operates in two segments: IoT products and services and IoT solutions. Offers cellular routers for mission-critical wireless connectivity; cellular modules that enable embedding cellular communications capabilities into products to deploy and manage smart and secure cellular-connected products; console servers providing secure and remote access to network equipment in data centers and 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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