Digi International (NASDAQ:DGII) Sets New 12-Month High – Time to Buy?

Digi International Inc. (NASDAQ:DGII) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $34.44 and last traded at $34.22, with a volume of 131132 shares traded. The stock had previously closed at $32.95.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Craig Hallum reiterated a “hold” rating and set a $32.00 target price (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Piper Sandler increased their price objective on shares of Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Digi International Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.13 and a current ratio of 1.73. The stock has a 50 day moving average of $30.04 and a 200 day moving average of $27.04. The stock has a market capitalization of $1.20 billion, a P/E ratio of 53.56, a P/E/G ratio of 1.18 and a beta of 1.06.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The firm had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. During the same period in the previous year, the business posted $0.44 EPS. Digi International’s revenue was down 6.3% on a year-over-year basis. Equities analysts predict that Digi International Inc. will post 1.68 EPS for the current year.

Insider Activity at Digi International

In other Digi International news, Director Satbir Khanuja sold 7,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $31.76, for a total transaction of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Digi International

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Digi International by 92.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after acquiring an additional 3,911 shares in the last quarter. Verity Asset Management Inc. acquired a new position in shares of Digi International in the 1st quarter valued at $269,000. Captrust Financial Advisors increased its stake in Digi International by 13.5% in the 3rd 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. Cornercap Investment Counsel Inc. acquired a new stake in Digi International during the 2nd quarter worth about $498,000. Finally, BNP Paribas Financial Markets raised its holdings in Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after buying an additional 8,235 shares during the period. 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.