Summit Creek Advisors LLC Boosts Holdings in Digi International Inc. (NASDAQ:DGII)

Summit Creek Advisors LLC lifted its stake in shares of Digi International Inc. (NASDAQ:DGII - Free Report) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 297,435 shares of the technology company's stock after buying an additional 42,179 shares during the period. Summit Creek Advisors LLC owned about 0.82% of Digi International worth $7,733,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DGII. Quantbot Technologies LP increased its position in Digi International by 76.8% in the 3rd quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company's stock valued at $47,000 after acquiring an additional 761 shares during the period. Cornercap Investment Counsel Inc. bought a new position in Digi International during the 4th quarter worth $525,000. SG Americas Securities LLC lifted its holdings in Digi International by 55.0% during the 4th quarter. SG Americas Securities LLC now owns 23,167 shares of the technology company's stock worth $602,000 after buying an additional 8,216 shares during the period. Rhumbline Advisers grew its position in shares of Digi International by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 102,783 shares of the technology company's stock valued at $2,775,000 after buying an additional 502 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Digi International by 36.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company's stock valued at $14,229,000 after buying an additional 139,720 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DGII has been the topic of a number of recent analyst reports. Stephens boosted their price target on shares of Digi International from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, February 5th. Piper Sandler restated an "overweight" rating and issued a $35.00 target price (down previously from $40.00) on shares of Digi International in a report on Friday, May 3rd. Finally, Roth Mkm decreased their price target on Digi International from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Digi International Stock Down 1.2 %

NASDAQ DGII traded down $0.34 on Monday, hitting $27.05. 171,190 shares of the company were exchanged, compared to its average volume of 184,341. The company has a current ratio of 2.05, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company has a market cap of $983.94 million, a PE ratio of 71.18, a PEG ratio of 0.89 and a beta of 1.22. The stock has a fifty day moving average of $29.85 and a 200-day moving average of $27.24. Digi International Inc. has a 12 month low of $21.25 and a 12 month high of $42.95.

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.