Roth Mkm Trims Digi International (NASDAQ:DGII) Target Price to $38.00

Digi International (NASDAQ:DGII) had its target price reduced by Roth Mkm from $40.00 to $38.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on DGII. Stephens boosted their price objective on Digi International from $40.00 to $45.00 and gave the company an overweight rating in a report on Monday, February 5th. Piper Sandler reissued an overweight rating and issued a $35.00 price target (down from $40.00) on shares of Digi International in a report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $38.00.

Digi International Stock Performance

DGII opened at $25.73 on Friday. The firm has a market capitalization of $932.97 million, a PE ratio of 67.71, a P/E/G ratio of 0.84 and a beta of 1.22. Digi International has a 12-month low of $21.25 and a 12-month high of $42.95. The firm has a 50 day moving average of $30.17 and a two-hundred day moving average of $27.17. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Digi International

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Digi International in the 3rd quarter valued at $404,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Digi International by 36.1% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock valued at $14,229,000 after buying an additional 139,720 shares in the last quarter. Summit Creek Advisors LLC purchased a new position in shares of Digi International in the third quarter valued at approximately $6,892,000. New York State Common Retirement Fund increased its position in shares of Digi International by 44.4% during the third quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock worth $18,270,000 after purchasing an additional 208,204 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in 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. Hedge funds and other institutional investors 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.