Digi International (NASDAQ:DGII – Get Rating) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.41-0.44 for the period, compared to the consensus EPS estimate of $0.38. The company issued revenue guidance of $98-102 million, compared to the consensus revenue estimate of $99.45 million. Digi International also updated its Q4 2022 guidance to $0.41-$0.44 EPS.
Digi International Price Performance
NASDAQ:DGII traded down $0.67 during trading hours on Friday, reaching $34.11. The company had a trading volume of 595,480 shares, compared to its average volume of 263,423. The firm has a market capitalization of $1.20 billion, a PE ratio of 94.75, a PEG ratio of 1.57 and a beta of 1.41. Digi International has a one year low of $18.54 and a one year high of $35.71. The stock has a 50-day moving average of $25.17 and a two-hundred day moving average of $22.20. The company has a quick ratio of 1.29, a current ratio of 1.79 and a debt-to-equity ratio of 0.54.
Digi International (NASDAQ:DGII – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12. Digi International had a net margin of 3.53% and a return on equity of 6.82%. The company had revenue of $104.00 million during the quarter, compared to analysts’ expectations of $96.12 million. During the same quarter in the previous year, the company earned $0.09 EPS. Digi International’s revenue was up 31.5% on a year-over-year basis. Analysts forecast that Digi International will post 1.3 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Insiders Place Their Bets
In other news, VP Terrence G. Schneider sold 12,631 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $21.64, for a total value of $273,334.84. Following the transaction, the vice president now owns 30,314 shares of the company’s stock, valued at $655,994.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Tracy L. Roberts sold 11,250 shares of Digi International stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $25.46, for a total value of $286,425.00. Following the transaction, the vice president now directly owns 53,957 shares of the company’s stock, valued at $1,373,745.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Terrence G. Schneider sold 12,631 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $21.64, for a total value of $273,334.84. Following the sale, the vice president now owns 30,314 shares of the company’s stock, valued at $655,994.96. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
Institutional Trading of Digi International
A number of hedge funds and other institutional investors have recently modified their holdings of DGII. Rhumbline Advisers boosted its holdings in shares of Digi International by 2.9% during the 1st quarter. Rhumbline Advisers now owns 97,635 shares of the technology company’s stock worth $2,101,000 after buying an additional 2,711 shares in the last quarter. MetLife Investment Management LLC increased its stake in Digi International by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 18,052 shares of the technology company’s stock valued at $388,000 after purchasing an additional 6,662 shares in the last quarter. US Bancorp DE raised its holdings in Digi International by 13.3% during the first quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock worth $272,000 after buying an additional 1,491 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Digi International by 61.9% in the first quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock valued at $93,000 after buying an additional 1,663 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.
About Digi International
Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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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