Bank of New York Mellon Corp Makes New Investment in Digi International Inc. $DGII

Key Points

• Bank of New York Mellon acquired 217,127 shares of Digi International worth approximately $16.3 million, representing about 0.58% of the company. Institutional investors collectively own 95.9% of DGII.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $82.40.
• Digi International exceeded quarterly expectations, reporting $0.75 in adjusted EPS and $138.67 million in revenue—up 29% year over year—versus estimates of $0.66 EPS and $132.57 million in revenue.

Bank of New York Mellon Corp acquired a new position in shares of Digi International Inc. (NASDAQ:DGII - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 217,127 shares of the technology company's stock, valued at approximately $16,274,000. Bank of New York Mellon Corp owned approximately 0.58% of Digi International as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DGII. GW&K Investment Management LLC acquired a new stake in Digi International during the 4th quarter valued at $2,410,000. Ameriprise Financial Inc. increased its holdings in shares of Digi International by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company's stock valued at $22,736,000 after purchasing an additional 46,659 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Digi International by 84.4% in the first quarter. SG Americas Securities LLC now owns 47,149 shares of the technology company's stock valued at $2,273,000 after purchasing an additional 21,584 shares during the period. Campbell & CO Investment Adviser LLC raised its position in shares of Digi International by 65.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 47,468 shares of the technology company's stock valued at $2,055,000 after purchasing an additional 18,706 shares during the period. Finally, Horizon Investments LLC acquired a new stake in shares of Digi International during the 4th quarter worth about $598,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Analyst Ratings Changes

DGII has been the topic of a number of research reports. Piper Sandler upped their price target on shares of Digi International from $63.00 to $76.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. B. Riley Financial raised their price objective on shares of Digi International from $78.00 to $86.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Roth Capital set a $90.00 price objective on Digi International and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research downgraded Digi International from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded Digi International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Digi International has an average rating of "Moderate Buy" and an average price target of $82.40.

Digi International Price Performance

NASDAQ:DGII opened at $74.94 on Tuesday. Digi International Inc. has a 52 week low of $33.40 and a 52 week high of $86.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.13. The firm's 50-day simple moving average is $72.72 and its 200 day simple moving average is $62.32. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 59.48 and a beta of 0.97.

Digi International (NASDAQ:DGII - Get Free Report) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. Digi International had a net margin of 9.63% and a return on equity of 12.16%. The firm had revenue of $138.67 million for the quarter, compared to analyst estimates of $132.57 million. During the same quarter in the prior year, the business posted $0.53 EPS. The business's 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. As a group, sell-side analysts predict that Digi International Inc. will post 2.31 earnings per share for the current year.

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.

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