Digi International’s (DGII) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Digi International (NASDAQ:DGII) in a research note released on Friday morning, Benzinga reports. The firm currently has a $35.00 price objective on the technology company’s stock, down from their prior price objective of $40.00.

Separately, Stephens raised their price target on Digi International from $40.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Digi International has an average rating of Moderate Buy and a consensus target price of $38.00.

Digi International Trading Up 0.9 %

DGII traded up $0.23 on Friday, hitting $25.73. The company had a trading volume of 522,140 shares, compared to its average volume of 166,343. The company’s fifty day moving average price is $30.17 and its 200 day moving average price is $27.14. Digi International has a 1 year low of $21.25 and a 1 year high of $42.95. The company has a current ratio of 2.05, a quick ratio of 1.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $932.97 million, a P/E ratio of 67.71, a PEG ratio of 0.83 and a beta of 1.22.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Digi International had a net margin of 3.20% and a return on equity of 11.61%. The business had revenue of $106.09 million for the quarter, compared to the consensus estimate of $105.75 million. As a group, equities analysts expect that Digi International will post 1.8 earnings per share for the current year.

Hedge Funds Weigh In On Digi International

Several institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC increased its stake in shares of Digi International by 50.0% during the fourth quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company’s stock worth $36,297,000 after buying an additional 465,382 shares during the period. Summit Creek Advisors LLC purchased a new stake in shares of Digi International during the 3rd quarter worth $6,892,000. New York State Common Retirement Fund grew its stake in shares of Digi International by 44.4% during the third quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after purchasing an additional 208,204 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Digi International by 36.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock worth $14,229,000 after purchasing an additional 139,720 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Digi International in the fourth quarter valued at $525,000. Institutional investors and hedge funds own 95.90% 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, 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.