Digi International (NASDAQ:DGII) Reaches New 12-Month High – Here’s Why

Digi International Inc. (NASDAQ:DGII)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $70.82 and last traded at $69.6520, with a volume of 22259 shares traded. The stock had previously closed at $69.06.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DGII. Piper Sandler boosted their target price on shares of Digi International from $46.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Digi International in a research note on Thursday, May 7th. Weiss Ratings downgraded Digi International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Stephens raised their target price on Digi International from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Craig Hallum lifted their target price on Digi International from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Digi International has a consensus rating of “Moderate Buy” and a consensus price target of $66.20.

Digi International Trading Down 0.1%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.77 and a current ratio of 1.11. The firm’s fifty day simple moving average is $62.34 and its 200-day simple moving average is $52.05. The stock has a market cap of $2.60 billion, a P/E ratio of 61.04 and a beta of 0.98.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Digi International had a net margin of 9.10% and a return on equity of 11.28%. The firm had revenue of $130.74 million for the quarter, compared to the consensus estimate of $125.03 million. During the same quarter in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. Digi International has set its Q3 2026 guidance at 0.650-0.680 EPS. Equities research analysts expect that Digi International Inc. will post 2.11 EPS for the current fiscal year.

Insider Activity

In other Digi International news, CFO James J. Loch sold 100,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $69.44, for a total transaction of $6,944,000.00. Following the completion of the sale, the chief financial officer directly owned 167,589 shares in the company, valued at approximately $11,637,380.16. This trade represents a 37.37% 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 14,182 shares of Digi International stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $65.61, for a total value of $930,481.02. Following the completion of the transaction, the vice president directly owned 26,759 shares of the company’s stock, valued at approximately $1,755,657.99. This trade represents a 34.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 121,008 shares of company stock worth $8,320,222 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Digi International

Several large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its stake in Digi International by 25.1% in the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock valued at $58,000 after buying an additional 339 shares during the period. Russell Investments Group Ltd. grew its position in shares of Digi International by 1,530.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock worth $123,000 after buying an additional 3,169 shares during the period. FourThought Financial Partners LLC bought a new stake in shares of Digi International in the 4th quarter valued at $204,000. Brooklyn Investment Group increased its stake in shares of Digi International by 3,880.3% in the 3rd quarter. Brooklyn Investment Group now owns 5,652 shares of the technology company’s stock valued at $206,000 after acquiring an additional 5,510 shares in the last quarter. Finally, Teton Advisors LLC acquired a new position in shares of Digi International during the 3rd quarter valued at $292,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Company Profile

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.