Digi International Inc. (NASDAQ:DGII) Receives $48.80 Consensus Target Price from Brokerages

Digi International Inc. (NASDAQ:DGII) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.80.

DGII has been the topic of several research reports. Wall Street Zen raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Saturday. Piper Sandler raised their target price on shares of Digi International from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and upped their price target for the stock from $30.00 to $45.00 in a report on Thursday, November 13th. Roth Mkm raised their price objective on Digi International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Zacks Research cut Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th.

Insider Activity at Digi International

In related news, VP David H. Sampsell sold 22,222 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $38.38, for a total value of $852,880.36. Following the completion of the transaction, the vice president owned 31,749 shares in the company, valued at $1,218,526.62. This trade represents a 41.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Terrence G. Schneider sold 16,667 shares of Digi International stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $40.56, for a total transaction of $676,013.52. Following the sale, the vice president owned 24,756 shares in the company, valued at approximately $1,004,103.36. This represents a 40.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,572 shares of company stock valued at $2,256,580 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Digi International

Several institutional investors have recently modified their holdings of DGII. Bessemer Group Inc. raised its position in Digi International by 2,215.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,227 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,174 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Digi International by 25.1% during the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock worth $58,000 after acquiring an additional 339 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Digi International by 67.8% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock worth $59,000 after acquiring an additional 685 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Digi International by 5,263.2% in the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock worth $71,000 after acquiring an additional 2,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Digi International by 1,530.9% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock valued at $123,000 after acquiring an additional 3,169 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Digi International Price Performance

Shares of DGII stock opened at $43.07 on Thursday. Digi International has a 12 month low of $22.39 and a 12 month high of $48.00. The stock has a 50-day moving average price of $43.63 and a 200 day moving average price of $38.38. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 39.88 and a beta of 0.86.

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Digi International had a return on equity of 10.88% and a net margin of 9.48%.The business had revenue of $114.34 million during the quarter, compared to the consensus estimate of $110.75 million. During the same period in the prior year, the company earned $0.52 EPS. Digi International’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Digi International will post 1.68 EPS for the current year.

About Digi International

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.