Digi International (NASDAQ:DGII) Given New $41.00 Price Target at Canaccord Genuity Group

Digi International (NASDAQ:DGIIGet Rating) had its price target raised by Canaccord Genuity Group from $30.00 to $41.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, Stephens initiated coverage on shares of Digi International in a research report on Wednesday, June 1st. They issued an overweight rating and a $36.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $35.50.

Digi International Price Performance

Shares of NASDAQ DGII opened at $34.11 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of 94.75, a PEG ratio of 1.57 and a beta of 1.41. The firm has a fifty day moving average of $25.17 and a 200 day moving average of $22.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.29 and a current ratio of 1.79. Digi International has a one year low of $18.54 and a one year high of $35.71.

Digi International (NASDAQ:DGIIGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12. The company had revenue of $104.00 million during the quarter, compared to analyst estimates of $96.12 million. Digi International had a net margin of 3.53% and a return on equity of 6.82%. The firm’s revenue was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, research analysts predict that Digi International will post 1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Terrence G. Schneider sold 12,631 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $21.64, for a total transaction of $273,334.84. Following the completion of the sale, the vice president now owns 30,314 shares in the company, valued at approximately $655,994.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Digi International news, VP Terrence G. Schneider sold 12,631 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $21.64, for a total transaction of $273,334.84. Following the completion of the sale, the vice president now owns 30,314 shares of the company’s stock, valued at $655,994.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Tracy L. Roberts sold 11,250 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $25.46, for a total value of $286,425.00. Following the sale, the vice president now directly owns 53,957 shares of the company’s stock, valued at approximately $1,373,745.22. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Digi International

A number of institutional investors have recently modified their holdings of the company. Moloney Securities Asset Management LLC acquired a new stake in shares of Digi International in the second quarter valued at $800,000. First Horizon Advisors Inc. purchased a new position in Digi International in the second quarter valued at $123,000. Lazard Asset Management LLC boosted its holdings in Digi International by 61.9% in the first quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock valued at $93,000 after purchasing an additional 1,663 shares during the period. Rhumbline Advisers boosted its holdings in Digi International by 2.9% in the first quarter. Rhumbline Advisers now owns 97,635 shares of the technology company’s stock valued at $2,101,000 after purchasing an additional 2,711 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Digi International by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 18,052 shares of the technology company’s stock worth $388,000 after buying an additional 6,662 shares during the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.

Digi International Company Profile

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Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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.

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Analyst Recommendations for Digi International (NASDAQ:DGII)

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