Digi International Inc. (NASDAQ:DGII) Receives Average Recommendation of "Buy" from Brokerages

Digi International Inc. (NASDAQ:DGII - Get Free Report) has been given a consensus recommendation of "Buy" by the five brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.00.

DGII has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $35.00 target price (down previously from $40.00) on shares of Digi International in a report on Friday, May 3rd. Stephens increased their price objective on Digi International from $40.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, February 5th. Finally, Roth Mkm decreased their target price on shares of Digi International from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, May 3rd.

Hedge Funds Weigh In On Digi International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Digi International in the 3rd quarter valued at $404,000. Summit Creek Advisors LLC acquired a new position in shares of Digi International in the third quarter valued at about $6,892,000. Fort Washington Investment Advisors Inc. OH increased its position in Digi International by 36.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company's stock worth $14,229,000 after acquiring an additional 139,720 shares during the period. New York State Common Retirement Fund raised its stake in Digi International by 44.4% in the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company's stock worth $18,270,000 after purchasing an additional 208,204 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Digi International by 76.8% in the 3rd quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company's stock valued at $47,000 after purchasing an additional 761 shares during the period. 95.90% of the stock is owned by institutional investors.

Digi International Stock Up 1.4 %

NASDAQ:DGII traded up $0.39 on Friday, hitting $27.39. 158,972 shares of the company's stock were exchanged, compared to its average volume of 184,487. The firm has a 50-day moving average price of $29.95 and a 200-day moving average price of $27.19. Digi International has a 52 week low of $21.25 and a 52 week high of $42.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28. The company has a market cap of $996.31 million, a P/E ratio of 71.05, a price-to-earnings-growth ratio of 0.84 and a beta of 1.22.

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.