New York State Common Retirement Fund Decreases Stake in Digi International Inc. (NASDAQ:DGII)

New York State Common Retirement Fund lowered its position in Digi International Inc. (NASDAQ:DGII) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 659,035 shares of the technology company’s stock after selling 3,067 shares during the quarter. New York State Common Retirement Fund’s holdings in Digi International were worth $18,143,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new position in Digi International in the first quarter worth approximately $139,000. SG Americas Securities LLC raised its holdings in Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in Digi International during the first quarter worth approximately $269,000. Cornercap Investment Counsel Inc. acquired a new stake in Digi International during the second quarter worth approximately $498,000. Finally, BNP Paribas Financial Markets raised its holdings in Digi International by 52.6% during the first quarter. BNP Paribas Financial Markets now owns 29,940 shares of the technology company’s stock worth $956,000 after purchasing an additional 10,317 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DGII shares. Piper Sandler cut their price objective on shares of Digi International from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Craig Hallum cut their price objective on shares of Digi International from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Digi International Stock Performance

Shares of Digi International stock opened at $29.37 on Wednesday. The firm’s fifty day simple moving average is $28.55 and its 200-day simple moving average is $26.64. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 0.97 and a beta of 1.06. Digi International Inc. has a 12 month low of $20.17 and a 12 month high of $32.90. 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 (NASDAQ:DGII) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $105.20 million for the quarter, compared to analysts’ expectations of $105.60 million. Digi International had a net margin of 3.94% and a return on equity of 11.32%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities analysts forecast that Digi International Inc. will post 1.67 earnings per share for the current year.

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.