Digi International (NASDAQ:DGII) Price Target Raised to $32.00

Digi International (NASDAQ:DGII) had its target price increased by Piper Sandler from $26.00 to $32.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Separately, Craig Hallum reissued a “hold” rating and issued a $32.00 target price (up previously from $28.00) on shares of Digi International in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Digi International presently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Digi International Stock Performance

Shares of DGII opened at $31.41 on Thursday. Digi International has a 12-month low of $20.17 and a 12-month high of $34.08. The stock has a market cap of $1.14 billion, a P/E ratio of 51.49, a PEG ratio of 1.05 and a beta of 1.06. The company has a current ratio of 1.73, a quick ratio of 1.31 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $29.14 and a two-hundred day moving average of $26.76.

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. The firm had revenue of $105.05 million for the quarter, compared to analyst estimates of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. Digi International’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, research analysts predict that Digi International will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Digi International

A number of hedge funds and other institutional investors have recently made changes to their positions in DGII. BNP Paribas Financial Markets boosted its stake in Digi International by 52.6% in the 1st quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock worth $956,000 after buying an additional 10,317 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Digi International by 1,814.0% in the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after acquiring an additional 54,746 shares during the last quarter. Summit Creek Advisors LLC boosted its position in shares of Digi International by 13.9% in the first quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after acquiring an additional 41,392 shares during the last quarter. Verity Asset Management Inc. acquired a new position in Digi International during the first quarter worth approximately $269,000. Finally, Harbor Capital Advisors Inc. increased its position in Digi International by 216.7% during the second quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after purchasing an additional 62,402 shares during 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.