Cornercap Investment Counsel Inc. Buys Shares of 21,714 Digi International Inc. (NASDAQ:DGII)

Cornercap Investment Counsel Inc. bought a new position in Digi International Inc. (NASDAQ:DGII) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,714 shares of the technology company’s stock, valued at approximately $498,000. Cornercap Investment Counsel Inc. owned 0.06% of Digi International as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DGII. Geneva Capital Management LLC lifted its position in Digi International by 20.9% in the first quarter. Geneva Capital Management LLC now owns 1,687,660 shares of the technology company’s stock valued at $53,887,000 after purchasing an additional 291,618 shares during the period. Summit Creek Advisors LLC raised its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Digi International by 2.1% in the 2nd 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 during the period. Rhumbline Advisers boosted its position in shares of Digi International by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after purchasing an additional 7,208 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Digi International by 216.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after purchasing an additional 62,402 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Digi International Stock Up 2.7 %

Shares of NASDAQ:DGII opened at $26.60 on Friday. The company has a market capitalization of $968.77 million, a P/E ratio of 70.00, a P/E/G ratio of 0.91 and a beta of 1.07. The stock’s fifty day simple moving average is $26.58 and its 200-day simple moving average is $27.05. Digi International Inc. has a 52-week low of $20.17 and a 52-week high of $32.90. The company has a quick ratio of 1.31, a current ratio of 2.00 and a debt-to-equity ratio of 0.27.

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Digi International had a net margin of 3.94% and a return on equity of 11.32%. The firm had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $105.60 million. During the same period in the previous year, the company earned $0.44 EPS. Digi International’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Digi International Inc. will post 1.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on DGII. StockNews.com raised shares of Digi International from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Piper Sandler decreased their price target on Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Craig Hallum dropped their price objective on Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Digi International 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.