New York State Teachers Retirement System Grows Holdings in Digi International Inc. $DGII

New York State Teachers Retirement System increased its holdings in Digi International Inc. (NASDAQ:DGII) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,347 shares of the technology company’s stock after acquiring an additional 3,632 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Digi International worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of DGII. GAMMA Investing LLC increased its stake in shares of Digi International by 67.8% during the second quarter. GAMMA Investing LLC now owns 1,696 shares of the technology company’s stock valued at $59,000 after purchasing an additional 685 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in Digi International by 20.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,800 shares of the technology company’s stock valued at $272,000 after buying an additional 1,300 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Digi International by 5,263.2% during the second quarter. Farther Finance Advisors LLC now owns 2,038 shares of the technology company’s stock valued at $71,000 after buying an additional 2,000 shares during the last quarter. Herald Investment Management Ltd bought a new stake in Digi International in the first quarter worth $2,226,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Digi International by 9,344.7% in the first quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock worth $3,023,000 after acquiring an additional 107,464 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Digi International from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Roth Capital reiterated a “buy” rating on shares of Digi International in a research note on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Digi International in a report on Wednesday, October 8th. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Digi International in a report on Tuesday, August 19th. Finally, B. Riley upped their price objective on Digi International from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Digi International presently has an average rating of “Moderate Buy” and a consensus price target of $38.75.

Digi International Stock Down 0.4%

DGII opened at $38.91 on Wednesday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 1.26 and a beta of 0.95. The firm has a 50 day moving average price of $35.72 and a 200-day moving average price of $33.05. Digi International Inc. has a twelve month low of $22.39 and a twelve month high of $39.29. The company has a quick ratio of 1.03, a current ratio of 1.43 and a debt-to-equity ratio of 0.06.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $107.51 million during the quarter, compared to the consensus estimate of $106.23 million. Digi International had a net margin of 10.14% and a return on equity of 10.96%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities research analysts forecast that Digi International Inc. will post 1.68 earnings per share for the current 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.