Digi International Inc. (NASDAQ:DGII) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in shares of Digi International Inc. (NASDAQ:DGII) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 359,893 shares of the technology company’s stock after purchasing an additional 29,026 shares during the quarter. Ameriprise Financial Inc. owned about 0.98% of Digi International worth $10,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in DGII. New Age Alpha Advisors LLC acquired a new stake in Digi International in the fourth quarter worth $1,400,000. Pacer Advisors Inc. grew its position 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 acquiring an additional 5,207 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Digi International in the 4th quarter worth about $196,000. Sterling Capital Management LLC lifted its position in Digi International by 868.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,025 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Digi International by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,655 shares of the technology company’s stock valued at $655,000 after purchasing an additional 1,451 shares during the period. Institutional investors own 95.90% of the company’s stock.

Digi International Trading Up 0.0%

Shares of NASDAQ:DGII opened at $33.30 on Tuesday. The company has a 50 day moving average of $28.26 and a 200-day moving average of $30.46. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.23 billion, a P/E ratio of 34.69, a P/E/G ratio of 1.23 and a beta of 0.82. Digi International Inc. has a twelve month low of $20.17 and a twelve month high of $37.07.

Digi International (NASDAQ:DGII) last released its earnings results on Wednesday, May 7th. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Digi International had a return on equity of 11.16% and a net margin of 8.45%. The firm had revenue of $104.50 million during the quarter, compared to the consensus estimate of $104.08 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, analysts anticipate that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DGII shares. Piper Sandler lifted their price target on Digi International from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. StockNews.com downgraded Digi International from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of Digi International in a research note on Thursday, February 6th.

Digi International 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.