Digi International (NASDAQ:DGII) Given New $41.00 Price Target at Canaccord Genuity Group

Digi International (NASDAQ:DGIIGet Rating) had its price target hoisted by Canaccord Genuity Group from $30.00 to $41.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, Stephens started coverage on Digi International in a research note on Wednesday, June 1st. They set an overweight rating and a $36.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Digi International currently has a consensus rating of Moderate Buy and a consensus price target of $35.50.

Digi International Stock Down 1.9 %

Shares of NASDAQ:DGII opened at $34.11 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.29 and a current ratio of 1.79. Digi International has a 1 year low of $18.54 and a 1 year high of $35.71. The stock has a market capitalization of $1.20 billion, a P/E ratio of 94.75, a PEG ratio of 1.57 and a beta of 1.41. The stock has a 50-day simple moving average of $25.17 and a 200-day simple moving average of $22.20.

Digi International (NASDAQ:DGIIGet Rating) last released its quarterly earnings results on Thursday, August 4th. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12. The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $96.12 million. Digi International had a return on equity of 6.82% and a net margin of 3.53%. Digi International’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Equities analysts forecast that Digi International will post 1.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Tracy L. Roberts sold 11,250 shares of Digi International stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $25.46, for a total value of $286,425.00. Following the completion of the transaction, the vice president now directly owns 53,957 shares of the company’s stock, valued at approximately $1,373,745.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Digi International news, VP Terrence G. Schneider sold 12,631 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $21.64, for a total transaction of $273,334.84. Following the completion of the transaction, the vice president now directly owns 30,314 shares of the company’s stock, valued at approximately $655,994.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tracy L. Roberts sold 11,250 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $25.46, for a total transaction of $286,425.00. Following the transaction, the vice president now directly owns 53,957 shares of the company’s stock, valued at $1,373,745.22. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its position in shares of Digi International by 27.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,687 shares of the technology company’s stock worth $66,000 after buying an additional 582 shares in the last quarter. Rhumbline Advisers raised its position in shares of Digi International by 0.8% during the 4th quarter. Rhumbline Advisers now owns 94,924 shares of the technology company’s stock worth $2,332,000 after buying an additional 768 shares in the last quarter. US Bancorp DE raised its position in shares of Digi International by 13.3% during the 1st quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock worth $272,000 after buying an additional 1,491 shares in the last quarter. Ulland Investment Advisors LLC raised its position in shares of Digi International by 15.2% during the 1st quarter. Ulland Investment Advisors LLC now owns 13,685 shares of the technology company’s stock worth $295,000 after buying an additional 1,810 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of Digi International by 17.9% during the 1st quarter. State of Tennessee Treasury Department now owns 12,606 shares of the technology company’s stock worth $271,000 after buying an additional 1,910 shares in the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.

Digi International Company Profile

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Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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.

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Analyst Recommendations for Digi International (NASDAQ:DGII)

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