Analysts Set Digi International Inc. (NASDAQ:DGII) PT at $46.80

Shares of Digi International Inc. (NASDAQ:DGII) have been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $46.80.

Several equities analysts recently commented on the company. B. Riley upped their target price on Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Craig Hallum upgraded Digi International from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $45.00 in a report on Thursday, November 13th. Roth Capital upped their price objective on shares of Digi International from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Piper Sandler increased their price objective on shares of Digi International from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Digi International in a research report on Tuesday, August 19th.

Insiders Place Their Bets

In related news, VP Terrence G. Schneider sold 16,667 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $40.56, for a total value of $676,013.52. Following the transaction, the vice president directly owned 24,756 shares of the company’s stock, valued at approximately $1,004,103.36. This trade represents a 40.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David H. Sampsell sold 22,222 shares of Digi International stock in a transaction on Monday, November 17th. The shares were sold at an average price of $38.38, for a total value of $852,880.36. Following the completion of the transaction, the vice president owned 31,749 shares in the company, valued at $1,218,526.62. The trade was a 41.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 56,572 shares of company stock worth $2,256,580. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Digi International

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC lifted its stake in shares of Digi International by 5.9% in the 2nd quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock valued at $60,322,000 after purchasing an additional 95,756 shares in the last quarter. Ameriprise Financial Inc. increased its position in Digi International by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock worth $22,736,000 after purchasing an additional 46,659 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Digi International by 47.2% in the third quarter. Hillsdale Investment Management Inc. now owns 181,255 shares of the technology company’s stock valued at $6,609,000 after buying an additional 58,100 shares during the period. Jones Financial Companies Lllp raised its holdings in Digi International by 9,344.7% in the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock valued at $3,023,000 after buying an additional 107,464 shares during the period. Finally, Rhumbline Advisers lifted its position in Digi International by 3.6% during the second quarter. Rhumbline Advisers now owns 107,050 shares of the technology company’s stock valued at $3,732,000 after buying an additional 3,722 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Digi International Stock Performance

Shares of NASDAQ DGII opened at $45.51 on Wednesday. The company has a 50-day simple moving average of $39.33 and a 200-day simple moving average of $36.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.85. The company has a market cap of $1.69 billion, a PE ratio of 42.14 and a beta of 0.87. Digi International has a 12 month low of $22.39 and a 12 month high of $48.00.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, November 12th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $114.34 million for the quarter, compared to analyst estimates of $110.75 million. Digi International had a net margin of 9.48% and a return on equity of 10.88%. Digi International’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that Digi International will post 1.68 earnings per share for the current year.

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.