Geneva Capital Management LLC Sells 489 Shares of Digi International Inc. (NASDAQ:DGII)

Geneva Capital Management LLC lowered its stake in shares of Digi International Inc. (NASDAQ:DGII) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,634,661 shares of the technology company’s stock after selling 489 shares during the quarter. Geneva Capital Management LLC owned about 4.43% of Digi International worth $45,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DGII. Sterling Capital Management LLC increased its position in Digi International by 868.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,143 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,025 shares during the period. Lazard Asset Management LLC bought a new stake in Digi International in the 4th quarter valued at $45,000. KLP Kapitalforvaltning AS bought a new stake in Digi International in the 4th quarter valued at $196,000. Bearing Point Capital LLC bought a new stake in Digi International in the 4th quarter valued at $212,000. Finally, Captrust Financial Advisors increased its holdings in Digi International by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company’s stock valued at $654,000 after buying an additional 1,291 shares during the period. Institutional investors own 95.90% of the company’s stock.

Digi International Stock Down 4.5%

DGII opened at $31.14 on Monday. The firm’s 50-day simple moving average is $33.78 and its 200-day simple moving average is $31.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.57. Digi International Inc. has a twelve month low of $20.17 and a twelve month high of $37.06. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.08 and a beta of 0.89.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Digi International had a net margin of 10.07% and a return on equity of 11.00%. The business had revenue of $104.50 million for the quarter, compared to analyst estimates of $104.08 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that Digi International Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Piper Sandler boosted their price target on shares of Digi International from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, May 8th.

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.