Digi International (NASDAQ:DGII) Issues Q4 Earnings Guidance

Digi International (NASDAQ:DGIIGet 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:DGIIGet 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

DGII has been the subject of a number of recent research reports. Stephens started coverage on Digi International in a research report on Wednesday, June 1st. They set an overweight rating and a $36.00 price target for the company. Piper Sandler boosted their price target on shares of Digi International from $30.00 to $45.00 and gave the stock an overweight rating in a research report on Friday. Finally, Canaccord Genuity Group raised their price objective on Digi International from $30.00 to $41.00 and gave the company a buy rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Digi International presently has a consensus rating of Moderate Buy and an average price target of $35.50.

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

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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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