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

Geneva Capital Management LLC increased its holdings in shares of Digi International Inc. (NASDAQ:DGII) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,396,042 shares of the technology company’s stock after purchasing an additional 465,382 shares during the period. Geneva Capital Management LLC owned approximately 3.85% of Digi International worth $36,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DGII. SG Americas Securities LLC acquired a new stake in Digi International during the third quarter valued at $404,000. Summit Creek Advisors LLC acquired a new stake in Digi International during the third quarter valued at $6,892,000. Fort Washington Investment Advisors Inc. OH grew 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 valued at $14,229,000 after buying an additional 139,720 shares during the period. New York State Common Retirement Fund grew its position in Digi International by 44.4% during the third quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company’s stock valued at $18,270,000 after buying an additional 208,204 shares during the period. Finally, Quantbot Technologies LP grew its position in Digi International by 76.8% during the third quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company’s stock valued at $47,000 after buying an additional 761 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DGII shares. Roth Mkm dropped their target price on shares of Digi International from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Stephens lifted their target price on shares of Digi International from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $35.00 target price (down previously from $40.00) on shares of Digi International in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Digi International Price Performance

DGII traded up $0.61 during trading on Thursday, reaching $27.00. The company’s stock had a trading volume of 133,595 shares, compared to its average volume of 184,770. The company has a quick ratio of 1.28, a current ratio of 2.05 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $27.19. The company has a market cap of $982.13 million, a price-to-earnings ratio of 71.05, a PEG ratio of 0.84 and a beta of 1.22. Digi International Inc. has a 1 year low of $21.25 and a 1 year high of $42.95.

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.