Digi International Inc. (NASDAQ:DGII) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Digi International Inc. (NASDAQ:DGII) by 108.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,928 shares of the technology company’s stock after buying an additional 8,788 shares during the period. SG Americas Securities LLC’s holdings in Digi International were worth $466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Digi International by 687.7% during the first quarter. GAMMA Investing LLC now owns 961 shares of the technology company’s stock worth $31,000 after buying an additional 839 shares during the period. NBC Securities Inc. acquired a new position in shares of Digi International during the first quarter worth approximately $78,000. Central Pacific Bank Trust Division acquired a new position in shares of Digi International during the first quarter worth approximately $139,000. Verity Asset Management Inc. acquired a new position in shares of Digi International during the first quarter worth approximately $269,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Digi International during the second quarter worth approximately $498,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DGII has been the subject of several analyst reports. Craig Hallum reduced their price objective on Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler cut their target price on Digi International from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Digi International Stock Performance

DGII opened at $30.56 on Thursday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 80.42, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.00 and a quick ratio of 1.31. Digi International Inc. has a 1-year low of $20.17 and a 1-year high of $32.90. The business has a 50 day moving average price of $28.15 and a two-hundred day moving average price of $26.76.

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

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.