Digi International (NASDAQ:DGII) Reaches New 52-Week High – What’s Next?

Shares of Digi International Inc. (NASDAQ:DGII) reached a new 52-week high on Monday . The stock traded as high as $34.44 and last traded at $34.22, with a volume of 131132 shares changing hands. The stock had previously closed at $32.95.

Analyst Ratings Changes

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

Digi International Stock Up 2.1 %

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 54.56, a P/E/G ratio of 1.15 and a beta of 1.06. The firm has a fifty day moving average price of $29.65 and a 200 day moving average price of $26.92. 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 posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The company had revenue of $105.05 million for the quarter, compared to analyst estimates of $104.16 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling at Digi International

In other news, Director Satbir Khanuja sold 7,000 shares of the company’s 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 transaction, the director now owns 83,255 shares of the company’s stock, valued at $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Digi International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in shares of Digi International by 13.5% during the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after buying an additional 2,418 shares during the period. SG Americas Securities LLC grew its holdings in 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 during the period. Bank of New York Mellon Corp raised its position in shares of Digi International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after acquiring an additional 6,534 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Digi International by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after purchasing an additional 7,208 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Digi International by 51.8% in the 3rd 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 during the last quarter. 95.90% of the stock is owned by institutional investors.

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.