Digi International (NASDAQ:DGII) Sets New 1-Year High – What’s Next?

Digi International Inc. (NASDAQ:DGII)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $58.09 and last traded at $56.9410, with a volume of 310 shares traded. The stock had previously closed at $57.51.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Digi International in a report on Monday, March 23rd. Wall Street Zen raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Digi International in a report on Thursday, February 5th. Finally, Zacks Research raised shares of Digi International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.80.

Digi International Price Performance

The company has a market capitalization of $2.20 billion, a P/E ratio of 52.18 and a beta of 0.94. The business has a 50 day simple moving average of $51.59 and a 200-day simple moving average of $45.67. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, February 4th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Digi International had a return on equity of 10.93% and a net margin of 9.45%.The firm had revenue of $122.46 million for the quarter, compared to analysts’ expectations of $115.90 million. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Analysts predict that Digi International Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity at Digi International

In related news, Director Satbir Khanuja sold 6,000 shares of Digi International stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $46.00, for a total transaction of $276,000.00. Following the sale, the director directly owned 85,298 shares in the company, valued at $3,923,708. The trade was a 6.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James E. Freeland sold 1,355 shares of Digi International stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $45.84, for a total transaction of $62,113.20. Following the sale, the vice president owned 19,987 shares in the company, valued at approximately $916,204.08. This represents a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,455 shares of company stock worth $616,357 in the last three months. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Digi International

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of Digi International by 445.3% during the third quarter. SG Americas Securities LLC now owns 30,670 shares of the technology company’s stock valued at $1,118,000 after purchasing an additional 25,046 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Digi International by 47.2% during the third quarter. Hillsdale Investment Management Inc. now owns 181,255 shares of the technology company’s stock valued at $6,609,000 after purchasing an additional 58,100 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Digi International during the fourth quarter valued at about $2,000,000. Herald Investment Management Ltd raised its stake in shares of Digi International by 25.0% during the third quarter. Herald Investment Management Ltd now owns 100,000 shares of the technology company’s stock valued at $3,646,000 after purchasing an additional 20,000 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Digi International during the third quarter valued at about $153,000. 95.90% of the stock is currently owned by institutional investors.

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.