Digi International’s (DGII) Overweight Rating Reiterated at Stephens

Digi International (NASDAQ:DGII)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $45.00 target price on the technology company’s stock. Stephens’ target price would indicate a potential upside of 24.69% from the stock’s previous close.

DGII has been the topic of a number of other research reports. Piper Sandler lifted their price objective on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Craig Hallum reissued a “hold” rating and set a $32.00 target price (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.75.

Digi International Stock Performance

Shares of Digi International stock traded up $5.68 during trading on Thursday, hitting $36.09. 105,712 shares of the company’s stock traded hands, compared to its average volume of 195,894. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. Digi International has a 1 year low of $20.17 and a 1 year high of $36.21. The stock has a market capitalization of $1.33 billion, a P/E ratio of 59.09, a PEG ratio of 1.11 and a beta of 1.06. The business has a 50-day simple moving average of $31.23 and a 200-day simple moving average of $29.60.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a return on equity of 11.24% and a net margin of 5.31%. As a group, analysts forecast that Digi International will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, VP Terrence G. Schneider sold 2,808 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the completion of the transaction, the vice president now directly owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Satbir Khanuja sold 7,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares in the company, valued at $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,329 shares of company stock worth $332,361. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Digi International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneva Capital Management LLC lifted its holdings in Digi International by 5.0% during the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after buying an additional 79,313 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Digi International by 1.3% during the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after purchasing an additional 11,239 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after purchasing an additional 8,235 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after acquiring an additional 8,788 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Company Profile

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.