Digi International (NASDAQ:DGII) Hits New 1-Year High - Here's Why

Key Points

• Digi International's stock reached a new 52-week high of $37.41, reflecting a significant increase from its previous closing price of $36.30.
• Equities analysts have issued positive ratings and revised price targets, with B. Riley setting a target of $40.00 and Stephens indicating an "overweight" rating with a target of $50.00.
• The company's latest earnings report revealed an EPS of $0.53, surpassing estimates, along with a revenue of $107.51 million, indicating growth compared to the prior year.

Digi International Inc. (NASDAQ:DGII - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.29 and last traded at $37.41, with a volume of 18047 shares trading hands. The stock had previously closed at $36.30.

Wall Street Analyst Weigh In

Several research firms have issued reports on DGII. Stephens restated an "overweight" rating and set a $50.00 target price on shares of Digi International in a research note on Tuesday, August 19th. Roth Capital restated a "buy" rating on shares of Digi International in a research note on Thursday, August 7th. B. Riley upped their target price on shares of Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Piper Sandler upped their price target on shares of Digi International from $30.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.75.

Digi International Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.43 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.38 billion, a PE ratio of 32.73, a P/E/G ratio of 1.29 and a beta of 0.87. The firm's fifty day simple moving average is $33.87 and its two-hundred day simple moving average is $31.77.

Digi International (NASDAQ:DGII - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $107.51 million during the quarter, compared to the consensus estimate of $106.23 million. Digi International had a return on equity of 10.96% and a net margin of 10.14%.The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. As a group, research analysts expect that Digi International Inc. will post 1.68 EPS for the current year.

Institutional Investors Weigh In On Digi International

Institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new stake in Digi International during the fourth quarter valued at about $45,000. GAMMA Investing LLC boosted its position in Digi International by 67.8% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company's stock valued at $59,000 after purchasing an additional 685 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Digi International by 5,263.2% during the second 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. SG Americas Securities LLC bought a new stake in Digi International during the second quarter valued at about $196,000. Finally, KLP Kapitalforvaltning AS boosted its position in Digi International by 20.0% during the second quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the technology company's stock valued at $272,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 95.90% of the company's stock.

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.