BlackRock Inc. Purchases New Shares in Digi International Inc. $DGII

BlackRock Inc. acquired a new stake in Digi International Inc. (NASDAQ:DGII - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,944,312 shares of the technology company's stock, valued at approximately $445,526,000. BlackRock Inc. owned approximately 15.77% of Digi International at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DGII. USA Financial Formulas lifted its position 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 worth $46,000 after purchasing an additional 494 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Digi International by 25.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company's stock worth $58,000 after buying an additional 339 shares in the last quarter. Russell Investments Group Ltd. increased its position in Digi International by 1,530.9% in the third 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 during the period. Global Retirement Partners LLC acquired a new stake in shares of Digi International during the 2nd quarter worth approximately $154,000. Finally, State of Wyoming bought a new stake in shares of Digi International during the 2nd quarter valued at $160,000. 95.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DGII has been the topic of a number of analyst reports. Stephens increased their price target on shares of Digi International from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Zacks Research downgraded Digi International from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. B. Riley Financial upped their price objective on Digi International from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Piper Sandler increased their price objective on shares of Digi International from $63.00 to $76.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Finally, Roth Capital set a $90.00 price target on Digi International and gave the company a "buy" rating in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.40.

Insider Transactions at Digi International

In other Digi International news, CFO James J. Loch sold 100,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $69.44, for a total transaction of $6,944,000.00. Following the sale, the chief financial officer owned 167,589 shares of the company's stock, valued at approximately $11,637,380.16. This represents a 37.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by insiders.

Digi International Trading Down 1.3%

DGII opened at $73.92 on Tuesday. The company's 50 day moving average price is $71.99 and its two-hundred day moving average price is $61.23. Digi International Inc. has a fifty-two week low of $33.40 and a fifty-two week high of $86.84. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 58.67 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 0.78.

Digi International (NASDAQ:DGII - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $138.67 million during the quarter, compared to analysts' expectations of $132.57 million. Digi International had a return on equity of 12.16% and a net margin of 9.63%.The business's quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. As a group, research 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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