Digi International (NASDAQ:DGII) Receives “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of Digi International (NASDAQ:DGII) in a report released on Tuesday morning,Benzinga reports. They currently have a $50.00 target price on the technology company’s stock.

A number of other research firms also recently weighed in on DGII. Piper Sandler boosted their target price on Digi International from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. B. Riley boosted their target price on Digi International from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Digi International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. Finally, Roth Capital restated a “buy” rating on shares of Digi International in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.75.

Digi International Trading Up 4.4%

Shares of DGII opened at $34.93 on Tuesday. The stock has a fifty day moving average price of $33.66 and a two-hundred day moving average price of $31.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.03 and a current ratio of 1.43. Digi International has a 52-week low of $22.39 and a 52-week high of $37.06. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.15 and a beta of 0.89.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The firm had revenue of $107.51 million during the quarter, compared to the consensus estimate of $106.23 million. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts predict that Digi International will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

Institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in shares of Digi International by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company’s stock worth $10,880,000 after purchasing an additional 29,026 shares during the period. GAMMA Investing LLC grew its stake in shares of Digi International by 2,467.2% during the first quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock worth $783,000 after purchasing an additional 27,040 shares during the period. Herald Investment Management Ltd acquired a new stake in shares of Digi International during the first quarter worth $2,226,000. Lazard Asset Management LLC acquired a new stake in shares of Digi International during the fourth quarter worth $45,000. Finally, Pacer Advisors Inc. grew its stake in shares of Digi International by 2,297.0% during the first quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company’s stock worth $6,624,000 after purchasing an additional 228,089 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

About Digi International

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.