Digi International (NASDAQ:DGII) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Digi International (NASDAQ:DGII) in a research note released on Friday, Benzinga reports. Piper Sandler currently has a $35.00 price objective on the technology company’s stock, down from their previous price objective of $40.00.

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

Digi International Stock Up 0.9 %

Shares of DGII opened at $25.73 on Friday. The firm has a 50 day simple moving average of $30.17 and a two-hundred day simple moving average of $27.17. The company has a market cap of $932.97 million, a P/E ratio of 67.71, a P/E/G ratio of 0.84 and a beta of 1.22. Digi International has a one year low of $21.25 and a one year high of $42.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Digi International during the third quarter valued at about $404,000. Fort Washington Investment Advisors Inc. OH raised its stake in 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 buying an additional 139,720 shares during the period. Summit Creek Advisors LLC bought a new position in Digi International in the third quarter worth approximately $6,892,000. New York State Common Retirement Fund grew its stake in Digi International by 44.4% in the third 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. Finally, Rhumbline Advisers increased its holdings in shares of Digi International by 0.5% during the third quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after acquiring an additional 502 shares in the last quarter. 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.