Digi International (NASDAQ:DGII) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Digi International (NASDAQ:DGII – Get Rating) in a research note released on Thursday morning. The firm issued a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an overweight rating and issued a $48.00 target price on shares of Digi International in a report on Friday, February 3rd. Piper Sandler increased their target price on Digi International to $50.00 in a report on Wednesday, November 16th. Finally, Craig Hallum increased their target price on Digi International to $48.00 in a report on Wednesday, November 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $47.00.

Digi International Price Performance

Digi International stock opened at $31.77 on Thursday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 0.92 and a beta of 1.25. Digi International has a 52-week low of $18.54 and a 52-week high of $43.68. The stock’s 50 day moving average price is $34.45 and its two-hundred day moving average price is $36.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.88.

Insider Buying and Selling at Digi International

In other Digi International news, CEO Ronald Konezny sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $33.79, for a total transaction of $1,013,700.00. Following the transaction, the chief executive officer now directly owns 622,958 shares in the company, valued at approximately $21,049,750.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO James J. Loch sold 7,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $33.97, for a total transaction of $237,790.00. Following the completion of the sale, the chief financial officer now directly owns 102,367 shares of the company’s stock, valued at approximately $3,477,406.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ronald Konezny sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $33.79, for a total value of $1,013,700.00. Following the sale, the chief executive officer now directly owns 622,958 shares of the company’s stock, valued at $21,049,750.82. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Digi International

Large investors have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new stake in shares of Digi International during the 3rd quarter valued at $34,000. Dorsey Wright & Associates purchased a new stake in shares of Digi International during the 4th quarter valued at $42,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Digi International in the 3rd quarter worth about $115,000. Lazard Asset Management LLC increased its holdings in Digi International by 61.9% in the 1st quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock worth $93,000 after acquiring an additional 1,663 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in Digi International by 41.6% in the 3rd quarter. Ensign Peak Advisors Inc now owns 5,240 shares of the technology company’s stock worth $181,000 after acquiring an additional 1,540 shares during the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.

Digi International Company Profile

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Digi International, Inc engages in the provision of business and mission-critical Internet of Things (IoT) connectivity products, services, and solutions. It operates under the IoT Products and Services and IoT Solutions segments. The IoT Products and Services segment offers products and services that help original equipment manufacturers, enterprise, and government customers and secure IoT connectivity solutions.