Digi International (NASDAQ:DGII) Sets New 1-Year High – Time to Buy?

Digi International Inc. (NASDAQ:DGII) reached a new 52-week high during trading on Monday . The company traded as high as $34.44 and last traded at $34.22, with a volume of 131132 shares traded. The stock had previously closed at $32.95.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Craig Hallum restated a “hold” rating and set a $32.00 target price (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.75.

Digi International Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 1.15 and a beta of 1.06. The firm has a 50-day moving average price of $29.65 and a two-hundred day moving average price of $26.92.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The firm had revenue of $105.05 million during the quarter, compared to the consensus estimate of $104.16 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Digi International

In related news, Director Satbir Khanuja sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Digi International

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Digi International by 92.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock valued at $187,000 after purchasing an additional 3,911 shares during the period. Verity Asset Management Inc. acquired a new position in Digi International during the first quarter worth approximately $269,000. Cornercap Investment Counsel Inc. bought a new stake in Digi International in the second quarter valued at approximately $498,000. Captrust Financial Advisors lifted its position in shares of Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after buying an additional 2,418 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after acquiring an additional 8,235 shares during the period. Institutional investors and hedge funds 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.