The Manufacturers Life Insurance Company Purchases New Stake in Digi International Inc. $DGII

Key Points

• The Manufacturers Life Insurance Company acquired 18,559 Digi International shares worth approximately $1.39 million in the second quarter. Institutional investors and hedge funds now own 95.9% of DGII’s outstanding stock.
• 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 reported strong quarterly results, posting $0.75 in EPS versus the $0.66 estimate and $138.67 million in revenue, up 29% year over year. Shares recently opened at $69.36, compared with a 52-week range of $33.74 to $86.84.

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

A number of other large investors have also recently bought and sold shares of DGII. BlackRock Inc. acquired a new position in shares of Digi International in the 2nd quarter valued at approximately $445,526,000. Globeflex Capital L P acquired a new position in Digi International during the second quarter valued at approximately $3,250,000. Horizon Investment Services LLC bought a new stake in Digi International during the second quarter worth $945,000. Bank of New York Mellon Corp bought a new stake in Digi International during the second quarter worth $16,274,000. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Digi International in the 2nd quarter valued at $1,614,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DGII. Weiss Ratings upgraded Digi International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Roth Capital set a $90.00 price objective on Digi International and gave the company a "buy" rating in a research note on Thursday, August 6th. Stephens lifted their target price on 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 research note on Monday, August 3rd. Finally, B. Riley Financial increased their target price on shares of Digi International from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Digi International has an average rating of "Moderate Buy" and a consensus target price of $82.40.

Digi International Price Performance

Shares of DGII opened at $69.36 on Friday. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 55.05 and a beta of 0.97. Digi International Inc. has a 1 year low of $33.74 and a 1 year high of $86.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 0.78. The business has a 50-day moving average of $72.81 and a 200-day moving average of $62.86.

Digi International (NASDAQ:DGII - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The company had revenue of $138.67 million for the quarter, compared to analyst estimates of $132.57 million. Digi International had a net margin of 9.63% and a return on equity of 12.16%. The company's quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. As a group, equities research analysts anticipate that Digi International Inc. will post 2.31 earnings per share for the current year.

About Digi International

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.

Want to see what other hedge funds are holding DGII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Digi International Inc. (NASDAQ:DGII - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source