Rhumbline Advisers Sells 5,226 Shares of Digi International Inc. (NASDAQ:DGII)

Rhumbline Advisers trimmed its holdings in Digi International Inc. (NASDAQ:DGII) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,728 shares of the technology company’s stock after selling 5,226 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Digi International worth $3,196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DGII. Geneva Capital Management LLC increased 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 acquiring an additional 79,313 shares during the period. BNP Paribas Financial Markets increased its holdings in Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after purchasing an additional 8,235 shares during the period. Captrust Financial Advisors raised its position in Digi International by 13.5% during the 3rd quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after purchasing an additional 2,418 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $24,074,000 after purchasing an additional 11,239 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Digi International by 110.2% in the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock worth $300,000 after buying an additional 5,207 shares during the period. 95.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DGII shares. Craig Hallum reissued a “hold” rating and set a $32.00 target price (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research note on Thursday, February 6th. StockNews.com raised Digi International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Piper Sandler boosted their price target on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Price Performance

NASDAQ:DGII opened at $30.54 on Friday. The firm has a market cap of $1.13 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The stock has a 50 day moving average of $31.59 and a two-hundred day moving average of $30.54. Digi International Inc. has a 12 month low of $20.17 and a 12 month high of $37.06. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. On average, analysts expect that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

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.