Geode Capital Management LLC Increases Holdings in Digi International Inc. (NASDAQ:DGII)

Geode Capital Management LLC boosted its position in Digi International Inc. (NASDAQ:DGII) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,290 shares of the technology company’s stock after buying an additional 11,239 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of Digi International worth $24,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 6,534 shares in the last quarter. Rhumbline Advisers boosted its position in Digi International by 6.7% during 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. Cornercap Investment Counsel Inc. bought a new position in shares of Digi International during the second quarter valued at about $498,000. SG Americas Securities LLC increased its holdings in shares of Digi International by 108.0% in the third 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, 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 acquiring an additional 79,313 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Digi International Trading Down 1.3 %

NASDAQ DGII opened at $30.40 on Friday. The stock has a market cap of $1.12 billion, a P/E ratio of 49.84, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. Digi International Inc. has a fifty-two week low of $20.17 and a fifty-two week high of $34.82. The stock has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $28.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.13 and a current ratio of 1.73.

Digi International (NASDAQ:DGII) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, topping 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 revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. On average, analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Craig Hallum reaffirmed a “hold” rating and issued a $32.00 price target (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Piper Sandler raised 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. Finally, StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Insider Activity

In other news, VP Terrence G. Schneider sold 2,808 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total value of $92,832.48. Following the completion of the transaction, the vice president now owns 39,002 shares of the company’s stock, valued at approximately $1,289,406.12. This represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Satbir Khanuja sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,329 shares of company stock valued at $332,361. Corporate insiders own 3.30% of the company’s stock.

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.