Digi International (NASDAQ:DGII) Price Target Cut to $38.00 by Analysts at Roth Mkm

Digi International (NASDAQ:DGII) had its price objective reduced by Roth Mkm from $40.00 to $38.00 in a report issued on Friday morning, Benzinga reports. Roth Mkm currently has a buy rating on the technology company’s stock.

DGII has been the subject of a number of other reports. Piper Sandler restated an overweight rating and issued a $35.00 target price (down from $40.00) on shares of Digi International in a research note on Friday. Stephens lifted their target price on Digi International from $40.00 to $45.00 and gave the company an overweight rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $38.00.

Digi International Stock Up 0.9 %

NASDAQ:DGII traded up $0.23 during mid-day trading on Friday, reaching $25.73. The stock had a trading volume of 522,140 shares, compared to its average volume of 166,343. The company has a market capitalization of $932.97 million, a price-to-earnings ratio of 67.71, a price-to-earnings-growth ratio of 0.83 and a beta of 1.22. Digi International has a 1-year low of $21.25 and a 1-year high of $42.95. The stock’s 50 day simple moving average is $30.17 and its two-hundred day simple moving average is $27.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.39.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $106.09 million during the quarter, compared to the consensus estimate of $105.75 million. Digi International had a return on equity of 11.61% and a net margin of 3.20%. Equities analysts anticipate that Digi International will post 1.8 EPS for the current year.

Institutional Investors Weigh In On Digi International

A number of hedge funds have recently made changes to their positions in the business. Geneva Capital Management LLC raised its holdings in shares of Digi International by 20.9% during the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after buying an additional 291,618 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Digi International during the first quarter valued at approximately $139,000. BNP Paribas Financial Markets raised its holdings in shares of Digi International by 52.6% during the first quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock valued at $956,000 after buying an additional 10,317 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Digi International during the first quarter valued at approximately $33,000. Finally, GAMMA Investing LLC raised its holdings in shares of Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock valued at $31,000 after buying an additional 839 shares during the last quarter. 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.