Digi International (NASDAQ:DGII) Hits New 1-Year High – What’s Next?

Digi International Inc. (NASDAQ:DGII) shares reached a new 52-week high on Friday . The company traded as high as $45.04 and last traded at $44.9060, with a volume of 68532 shares changing hands. The stock had previously closed at $43.71.

Analyst Ratings Changes

DGII has been the subject of several research reports. B. Riley raised their price target on Digi International from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Roth Capital raised their target price on shares of Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Digi International in a research note on Wednesday, October 8th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $45.00 in a research report on Thursday, November 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Digi International in a research report on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Digi International has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Digi International Stock Up 3.3%

The stock’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $35.47. The stock has a market cap of $1.68 billion, a P/E ratio of 41.81, a P/E/G ratio of 1.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.85 and a current ratio of 1.21.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, November 12th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $114.34 million during the quarter, compared to the consensus estimate of $110.75 million. Digi International had a net margin of 9.48% and a return on equity of 10.88%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, research analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Terrence G. Schneider sold 16,667 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.56, for a total value of $676,013.52. Following the completion of the transaction, the vice president owned 24,756 shares of the company’s stock, valued at $1,004,103.36. The trade was a 40.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David H. Sampsell sold 22,222 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $38.38, for a total transaction of $852,880.36. Following the sale, the vice president directly owned 31,749 shares of the company’s stock, valued at $1,218,526.62. This represents a 41.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 56,572 shares of company stock worth $2,256,580 in the last 90 days. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Digi International by 5,263.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock valued at $71,000 after purchasing an additional 2,000 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Digi International in the second quarter valued at about $4,293,000. Jones Financial Companies Lllp grew its position in Digi International by 9,344.7% in the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock valued at $3,023,000 after acquiring an additional 107,464 shares during the last quarter. Herald Investment Management Ltd bought a new position in Digi International in the first quarter valued at about $2,226,000. Finally, Geneva Capital Management LLC raised its stake in Digi International by 5.9% during the second quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock worth $60,322,000 after acquiring an additional 95,756 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.