Digi International (NASDAQ:DGII) Sets New 52-Week High - What's Next?

Shares of Digi International Inc. (NASDAQ:DGII - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $37.06 and last traded at $35.68, with a volume of 948680 shares. The stock had previously closed at $30.41.

Analysts Set New Price Targets

Several research firms have issued reports on DGII. Stephens reiterated an "overweight" rating and issued a $45.00 price objective on shares of Digi International in a research report on Thursday. Piper Sandler boosted their price target on Digi International from $26.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Craig Hallum restated a "hold" rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, StockNews.com upgraded Digi International from a "buy" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.75.

Digi International Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $31.33 and a two-hundred day moving average price of $29.73. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 1.27 and a beta of 1.06.

Digi International (NASDAQ:DGII - Get Free Report) last posted its quarterly earnings data 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 return on equity of 11.16% and a net margin of 8.45%. As a group, analysts forecast that Digi International Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity at Digi International

In other Digi International news, Director Satbir Khanuja sold 7,000 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 83,255 shares in the company, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the transaction, the vice president now directly owns 39,002 shares in the company, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,329 shares of company stock valued at $332,361. Company insiders own 3.30% of the company's stock.

Institutional Trading of Digi International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its holdings in 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. Pacer Advisors Inc. grew its stake in shares of Digi International by 110.2% during the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company's stock valued at $300,000 after buying an additional 5,207 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company's stock worth $664,000 after buying an additional 8,235 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Digi International by 108.0% in the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company's stock worth $466,000 after buying an additional 8,788 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company's stock valued at $24,074,000 after acquiring an additional 11,239 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.