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 currently have a $45.00 target price on the technology company’s stock. Stephens’ target price would suggest a potential upside of 28.17% from the company’s current price.

Several other equities research analysts also recently weighed in on DGII. StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Piper Sandler boosted their target price on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Craig Hallum restated a “hold” rating and set a $32.00 price target (up previously from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.75.

Digi International Price Performance

Shares of DGII stock opened at $35.11 on Thursday. The stock’s 50-day moving average is $31.29 and its 200 day moving average is $29.64. Digi International has a 1-year low of $20.17 and a 1-year high of $37.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. The company has a market cap of $1.29 billion, a P/E ratio of 57.56, a PEG ratio of 1.11 and a beta of 1.06.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a net margin of 5.31% and a return on equity of 11.24%. Research analysts predict that Digi International will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Terrence G. Schneider sold 2,808 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the completion of the transaction, 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 position. 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 stock was sold at an average price of $31.76, for a total value of $222,320.00. Following the transaction, the director now owns 83,255 shares in the company, valued at $2,644,178.80. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,329 shares of company stock worth $332,361. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its stake in Digi International by 110.2% in the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after acquiring an additional 5,207 shares during the period. SG Americas Securities LLC lifted its holdings in Digi International by 108.0% during the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock valued at $466,000 after purchasing an additional 8,788 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after purchasing an additional 2,418 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Digi International by 51.8% during 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. Finally, Geode Capital Management LLC raised its position in shares of Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after purchasing an additional 11,239 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.