Digi International (NASDAQ:DGII) Given New $32.00 Price Target at Piper Sandler

Digi International (NASDAQ:DGII) had its price objective boosted by Piper Sandler from $26.00 to $32.00 in a report issued on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

Separately, Craig Hallum reiterated a “hold” rating and issued a $32.00 price target (up from $28.00) on shares of Digi International in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Digi International Trading Down 0.9 %

NASDAQ DGII opened at $31.41 on Thursday. Digi International has a 12 month low of $20.17 and a 12 month high of $34.08. The stock has a 50-day simple moving average of $29.14 and a 200 day simple moving average of $26.78. The company has a current ratio of 2.00, a quick ratio of 1.31 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.14 billion, a PE ratio of 51.49, a P/E/G ratio of 1.07 and a beta of 1.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGII. Geneva Capital Management LLC raised its position in shares of Digi International by 5.0% during the third quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock worth $45,560,000 after purchasing an additional 79,313 shares during the period. Geode Capital Management LLC raised its holdings in Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares during the period. Summit Creek Advisors LLC raised its holdings in Digi International by 13.9% during the 1st quarter. Summit Creek Advisors LLC now owns 338,827 shares of the technology company’s stock worth $10,819,000 after buying an additional 41,392 shares during the period. Bank of New York Mellon Corp lifted its stake in Digi International by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after buying an additional 6,534 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Digi International by 6.7% in the second quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock valued at $2,627,000 after buying an additional 7,208 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

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.