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

Piper Sandler reiterated their overweight rating on shares of Digi International (NASDAQ:DGII) in a report issued on Friday morning, Benzinga reports. Piper Sandler currently has a $35.00 price target on the technology company’s stock, down from their previous price target of $40.00.

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

Digi International Stock Performance

NASDAQ:DGII opened at $25.73 on Friday. The firm has a market capitalization of $932.97 million, a PE ratio of 67.71, a PEG ratio of 0.84 and a beta of 1.22. Digi International has a 1 year low of $21.25 and a 1 year high of $42.95. 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 firm’s fifty day simple moving average is $30.17 and its 200 day simple moving average is $27.17.

Institutional Investors Weigh In On Digi International

Several large investors have recently modified their holdings of DGII. Geneva Capital Management LLC boosted its stake in Digi International by 20.9% in the 1st 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 in the last quarter. New York State Common Retirement Fund boosted its position 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 buying an additional 208,204 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Digi International by 36.1% in the third 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 period. Summit Creek Advisors LLC raised its holdings in Digi International by 16.5% during 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 last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Digi International by 0.5% in the 3rd 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. 95.90% of the stock is currently owned by institutional investors.

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.