Digi International’s (DGII) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Digi International (NASDAQ:DGII) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $35.00 price target on the technology company’s stock, down from their prior price target of $40.00.

Separately, Stephens boosted their target price on shares of Digi International from $40.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $38.00.

Digi International Stock Performance

NASDAQ DGII opened at $27.01 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $30.11 and a 200 day simple moving average of $27.19. Digi International has a 12-month low of $21.25 and a 12-month high of $42.95. The company has a market cap of $979.38 million, a P/E ratio of 71.08, a PEG ratio of 0.84 and a beta of 1.22.

Hedge Funds Weigh In On Digi International

A number of hedge funds and other institutional investors have recently modified their holdings of DGII. Geneva Capital Management LLC grew its position in 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 period. New York State Common Retirement Fund grew its position in shares of Digi International by 44.4% during the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock valued at $18,270,000 after acquiring an additional 208,204 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Digi International by 36.1% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock worth $14,229,000 after purchasing an additional 139,720 shares during the last quarter. Summit Creek Advisors LLC raised its holdings in shares of Digi International by 16.5% in the 4th quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company’s stock worth $7,733,000 after purchasing an additional 42,179 shares during the period. Finally, Rhumbline Advisers lifted its stake in Digi International by 0.5% in the third quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Digi International Company Profile

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.