Digi International (NASDAQ:DGII) Hits New 1-Year High – Should You Buy?

Shares of Digi International Inc. (NASDAQ:DGII) hit a new 52-week high during trading on Thursday . The stock traded as high as $34.82 and last traded at $34.27, with a volume of 11741 shares trading hands. The stock had previously closed at $33.88.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Craig Hallum reiterated a “hold” rating and set a $32.00 price objective (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Piper Sandler upped their target price on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Price Performance

The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 1.21 and a beta of 1.05. The stock has a fifty day moving average of $31.29 and a two-hundred day moving average of $27.55.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $105.05 million during the quarter, compared to analyst estimates of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. As a group, equities research analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current year.

Insider Activity at Digi International

In related news, Director Satbir Khanuja sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $31.76, for a total value of $222,320.00. Following the transaction, the director now owns 83,255 shares in the company, valued at $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Terrence G. Schneider sold 2,808 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $33.06, for a total transaction of $92,832.48. Following the transaction, the vice president now owns 39,002 shares in the company, valued at approximately $1,289,406.12. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,329 shares of company stock valued at $332,361 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Digi International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneva Capital Management LLC lifted its stake in shares of Digi International by 5.0% in the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock valued at $45,560,000 after purchasing an additional 79,313 shares during the period. Cornercap Investment Counsel Inc. bought a new position in Digi International during the second quarter worth about $498,000. Geode Capital Management LLC grew its position in shares of 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. SG Americas Securities LLC grew its position in shares of Digi International by 108.0% during the 3rd quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after buying an additional 8,788 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Digi International by 51.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after acquiring an additional 8,235 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

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.