Digi International Inc. (NASDAQ:DGII) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Digi International Inc. (NASDAQ:DGII) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 312,765 shares of the technology company’s stock after acquiring an additional 6,534 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of Digi International worth $7,172,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake 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 purchasing an additional 839 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in Digi International during the 1st quarter worth $33,000. NBC Securities Inc. acquired a new stake in shares of Digi International in the 1st quarter worth $78,000. Central Pacific Bank Trust Division purchased a new stake in shares of Digi International in the first quarter valued at about $139,000. Finally, SG Americas Securities LLC increased its stake in shares of 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 acquiring an additional 3,911 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DGII shares. Craig Hallum reduced their price objective on shares of Digi International from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded Digi International from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Finally, Piper Sandler cut their price objective 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.20.

Digi International Stock Performance

DGII opened at $25.94 on Thursday. The stock’s 50 day simple moving average is $26.38 and its 200 day simple moving average is $27.11. The stock has a market cap of $943.57 million, a P/E ratio of 68.26, a P/E/G ratio of 0.95 and a beta of 1.07. Digi International Inc. has a 1-year low of $20.17 and a 1-year 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 quarterly earnings results on Wednesday, August 7th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Digi International had a return on equity of 11.32% and a net margin of 3.94%. The business had revenue of $105.20 million during the quarter, compared to analysts’ expectations of $105.60 million. During the same quarter last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Digi International Inc. will post 1.68 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.