18,559 Shares in Digi International Inc. $DGII Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Digi International Inc. (NASDAQ:DGII) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,559 shares of the technology company’s stock, valued at approximately $1,391,000.

Other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas increased its holdings in shares of Digi International by 109.3% during the first quarter. USA Financial Formulas now owns 946 shares of the technology company’s stock valued at $46,000 after acquiring an additional 494 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Digi International by 25.1% during the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company’s stock worth $58,000 after purchasing an additional 339 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Digi International by 1,530.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company’s stock worth $123,000 after purchasing an additional 3,169 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Digi International in the 2nd quarter worth $154,000. Finally, State of Wyoming acquired a new stake in Digi International in the 2nd quarter valued at $160,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Stock Down 1.3%

Shares of NASDAQ:DGII opened at $69.36 on Friday. The business’s 50 day moving average is $72.81 and its 200 day moving average is $62.86. Digi International Inc. has a 12-month low of $33.74 and a 12-month high of $86.84. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 55.05 and a beta of 0.97. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Digi International had a return on equity of 12.16% and a net margin of 9.63%.The business had revenue of $138.67 million during the quarter, compared to analyst estimates of $132.57 million. During the same period in the prior year, the firm posted $0.53 EPS. Digi International’s quarterly revenue was up 29.0% compared to the same quarter last year. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. On average, sell-side analysts forecast that Digi International Inc. will post 2.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. B. Riley Financial boosted their price target on shares of Digi International from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Roth Capital set a $90.00 price objective on shares of Digi International and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Digi International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Zacks Research downgraded shares of Digi International from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Piper Sandler upped their target price on shares of Digi International from $63.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.40.

Digi International Company Profile

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.