Digi International Inc. (NASDAQ:DGII) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Digi International Inc. (NASDAQ:DGII - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,090 shares of the technology company's stock after selling 13,549 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of Digi International worth $7,651,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Digi International by 110.2% in the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company's stock valued at $300,000 after buying an additional 5,207 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company's stock valued at $560,000 after acquiring an additional 2,418 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company's stock valued at $664,000 after acquiring an additional 8,235 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company's stock worth $24,074,000 after purchasing an additional 11,239 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

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Digi International Trading Up 3.3 %

Shares of DGII stock traded up $0.96 on Wednesday, reaching $30.08. 86,619 shares of the stock were exchanged, compared to its average volume of 200,029. The firm has a 50 day moving average of $31.30 and a two-hundred day moving average of $30.57. The stock has a market cap of $1.11 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Digi International Inc. has a 1-year low of $20.17 and a 1-year high of $37.07.

Digi International (NASDAQ:DGII - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. On average, research analysts anticipate that Digi International Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on DGII shares. StockNews.com upgraded shares of Digi International from a "buy" rating to a "strong-buy" rating in a report on Thursday, December 19th. Stephens restated an "overweight" rating and set a $45.00 target price on shares of Digi International in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.75.

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.