Stephens Reiterates “Overweight” Rating for Digi International (NASDAQ:DGII)

Digi International (NASDAQ:DGII)‘s stock had its “overweight” rating restated by investment analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $45.00 price objective on the technology company’s stock. Stephens’ price target suggests a potential upside of 24.69% from the company’s previous close.

Several other equities analysts also recently commented on DGII. Piper Sandler upped their price target 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. StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Craig Hallum restated a “hold” rating and issued a $32.00 price target (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Digi International Stock Performance

Shares of DGII traded up $5.68 during midday trading on Thursday, reaching $36.09. The stock had a trading volume of 105,712 shares, compared to its average volume of 195,894. Digi International has a one year low of $20.17 and a one year high of $36.21. The firm has a market cap of $1.33 billion, a PE ratio of 59.09, a P/E/G ratio of 1.11 and a beta of 1.06. The firm has a 50 day simple moving average of $31.23 and a 200-day simple moving average of $29.60. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII) last announced its quarterly 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 net margin of 5.31% and a return on equity of 11.24%. As a group, sell-side analysts anticipate that Digi International will post 1.65 EPS for the current year.

Insider Activity

In other news, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the completion of the sale, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Satbir Khanuja sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 10,329 shares of company stock worth $332,361 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Digi International

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after purchasing an additional 8,788 shares in the last quarter. Geneva Capital Management LLC raised its holdings in Digi International by 5.0% in the third quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after purchasing an additional 79,313 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Digi International by 51.8% in 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 holdings 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 valued at $560,000 after acquiring an additional 2,418 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 valued at $24,074,000 after acquiring an additional 11,239 shares in the last quarter. Hedge funds and other institutional investors 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.