Geneva Capital Management LLC Grows Position in Digi International Inc. (NASDAQ:DGII)

Geneva Capital Management LLC grew its stake in Digi International Inc. (NASDAQ:DGII) by 50.0% during the 4th quarter, Holdings Channel reports. The fund owned 1,396,042 shares of the technology company’s stock after acquiring an additional 465,382 shares during the period. Geneva Capital Management LLC’s holdings in Digi International were worth $36,297,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. New York State Common Retirement Fund lifted its holdings in Digi International by 44.4% in the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock valued at $18,270,000 after purchasing an additional 208,204 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Digi International by 36.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company’s stock worth $14,229,000 after acquiring an additional 139,720 shares during the last quarter. Summit Creek Advisors LLC purchased a new stake in Digi International in the 3rd quarter worth approximately $6,892,000. Rhumbline Advisers raised its holdings in Digi International by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 102,783 shares of the technology company’s stock valued at $2,775,000 after acquiring an additional 502 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Digi International by 55.0% during the 4th quarter. SG Americas Securities LLC now owns 23,167 shares of the technology company’s stock worth $602,000 after purchasing an additional 8,216 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DGII. Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price (down from $40.00) on shares of Digi International in a research note on Friday, May 3rd. Roth Mkm dropped their price objective on shares of Digi International from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Stephens increased their price objective on shares of Digi International from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Digi International Trading Up 2.3 %

NASDAQ:DGII traded up $0.61 on Thursday, hitting $27.00. 133,595 shares of the stock were exchanged, compared to its average volume of 184,770. The stock has a market cap of $982.13 million, a PE ratio of 71.05, a PEG ratio of 0.84 and a beta of 1.22. Digi International Inc. has a fifty-two week low of $21.25 and a fifty-two week high of $42.95. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $29.95 and a 200-day moving average of $27.19.

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.