Geneva Capital Management LLC Trims Holdings in Digi International Inc. (NASDAQ:DGII)

Geneva Capital Management LLC trimmed its holdings in Digi International Inc. (NASDAQ:DGII) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,635,150 shares of the technology company’s stock after selling 19,761 shares during the quarter. Geneva Capital Management LLC’s holdings in Digi International were worth $49,431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Digi International by 51.8% in the third 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 lifted its holdings in shares of Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Digi International by 1.3% during the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after purchasing an additional 11,239 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Digi International by 110.2% during the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock worth $300,000 after purchasing an additional 5,207 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Digi International Trading Up 1.0 %

Shares of DGII opened at $29.36 on Thursday. The stock’s 50-day moving average is $31.50 and its two-hundred day moving average is $30.57. The stock has a market cap of $1.08 billion, a PE ratio of 30.58, a P/E/G ratio of 1.23 and a beta of 1.06. Digi International Inc. has a 12 month low of $20.17 and a 12 month high of $37.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.06.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. Equities analysts forecast 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.