Analysts Set Digi International Inc. (NASDAQ:DGII) Target Price at $36.50

Digi International Inc. (NASDAQ:DGII) has received an average rating of “Moderate Buy” from the four research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $36.50.

Several brokerages recently issued reports on DGII. StockNews.com lowered shares of Digi International from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler lowered shares of Digi International from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $35.00 to $29.00 in a research report on Wednesday, May 22nd. Finally, Roth Mkm cut their price target on shares of Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, May 3rd.

Digi International Stock Down 1.0 %

DGII opened at $22.45 on Tuesday. The company has a fifty day moving average price of $27.81 and a 200-day moving average price of $27.35. The firm has a market capitalization of $816.62 million, a P/E ratio of 59.08, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28. Digi International has a one year low of $21.25 and a one year high of $42.95.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. Digi International had a net margin of 3.20% and a return on equity of 11.61%. The company had revenue of $107.70 million during the quarter, compared to analyst estimates of $106.97 million. Equities research analysts expect that Digi International will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Digi International

Several institutional investors have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC raised 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 valued at $36,297,000 after acquiring an additional 465,382 shares during the last quarter. New York State Common Retirement Fund raised 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 valued at $18,270,000 after acquiring an additional 208,204 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Digi International by 1,814.0% during the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after acquiring an additional 54,746 shares during the last quarter. Summit Creek Advisors LLC raised its stake in shares of Digi International by 16.5% during the fourth quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock valued at $7,733,000 after acquiring an additional 42,179 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Digi International during the fourth quarter valued at about $525,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.