Geode Capital Management LLC Cuts Position in Digi International Inc. (NASDAQ:DGII)

Geode Capital Management LLC trimmed its holdings in shares of Digi International Inc. (NASDAQ:DGII) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 865,589 shares of the technology company’s stock after selling 8,701 shares during the quarter. Geode Capital Management LLC’s holdings in Digi International were worth $26,173,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DGII. Pacer Advisors Inc. lifted its holdings in shares of Digi International by 110.2% during the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after acquiring an additional 5,207 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Digi International in the fourth quarter valued at about $196,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Digi International during the fourth quarter worth about $1,400,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Price Performance

Shares of NASDAQ DGII opened at $26.30 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Digi International Inc. has a fifty-two week low of $20.17 and a fifty-two week high of $37.07. The business has a 50 day moving average price of $29.29 and a two-hundred day moving average price of $30.47. The firm has a market cap of $970.44 million, a PE ratio of 27.40, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on DGII. Piper Sandler lowered their target price on Digi International from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Stephens reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research report on Thursday, February 6th. Finally, StockNews.com upgraded shares of Digi International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.25.

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.