In a surprising turn of events, Strs Ohio has significantly boosted its investment in Digi International Inc. During the first quarter, the renowned asset management firm increased its position in the technology company’s shares by an astonishing 23.7%. According to the recent 13F filing with the Securities and Exchange Commission (SEC), Strs Ohio now owns 21,400 shares of Digi International’s stock, representing a notable increment of 4,100 shares from the previous quarter. The value of this investment is estimated to be around $720,000 as of the end of the most recent quarter.
Digi International Inc. (NASDAQ: DGII) recently disclosed its quarterly earnings results on May 4th, leaving analysts pleasantly surprised. The technology company reported an earnings per share (EPS) of $0.43 for the quarter, exceeding consensus estimates by $0.04 per share. This positive outcome showcases not only Digi International’s steadfast growth but also its ability to outperform market expectations. Additionally, the company demonstrated a return on equity of 11.98% and achieved a net margin of 6.29%, further solidifying its stability and profitability.
Interestingly, during this period, Digi International generated revenues amounting to an impressive $111.14 million, surpassing forecasts that estimated revenues to be around $106.59 million for the same period. This remarkable performance undoubtedly contributes to investors’ confidence in Digi International’s prospects as it continues to thrive within the technology sector.
Looking ahead with optimism and anticipation, equities research analysts are predicting that Digi International Inc.’s earnings per share (EPS) for this year will likely reach approximately 1.7 EPS when combined with future developments surrounding promising projects.
If you’re interested in staying up-to-date on other hedge funds’ involvement with DGII or tracking insider trades related to Digi International Inc., HoldingsChannel.com provides thorough coverage of such information. By exploring this platform, investors and enthusiasts alike can gain valuable insights from the latest 13F filings and insider transactions, allowing them to make informed decisions regarding their investments.
As of the referenced date, July 24, 2023, it is clear that Digi International Inc. stands as a compelling investment choice in the technology realm. Strs Ohio’s increased position amplifies this sentiment, reflecting their confidence in the company’s potential for growth and profitability. With its recent outstanding financial performance, Digi International proves itself as a prominent player in the technology industry, attracting attention from astute investors seeking fruitful opportunities within a dynamic market.
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Digi International Inc.: Leading the IoT Revolution and Gaining Investor Confidence
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”DGII” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Digi International Inc. (NASDAQ: DGII) is a global leader in providing business and mission-critical Internet of Things (IoT) products, services, and solutions. The company operates in two segments: IoT Products & Services and IoT Solutions, catering to the ever-growing demand for connectivity and data management in the digital era.
As of July 24, 2023, various institutional investors have been actively adjusting their stakes in Digi International. Noteworthy among them is Dorsey Wright & Associates, which entered the market with an investment of approximately $42,000 during the fourth quarter. Ensign Peak Advisors Inc also raised its stake by 41.6% in the third quarter of last year, now owning over 5,240 shares worth $181,000. Similarly, Lazard Asset Management LLC recently increased its stake by 61.9%, holding 4,350 shares valued at $93,000.
Another investor making bold moves is Ulland Investment Advisors LLC. Their stake in Digi International has skyrocketed by an astonishing 615.8% since the first quarter of this year. With a current investment of 28,418 shares worth $957,000, Ulland Investment Advisors LLC demonstrates a strong belief in the company’s potential for growth.
Wellington Shields & Co. LLC also showed significant faith by raising its stake by 147.6% during the fourth quarter and currently owns 14,978 shares valued at $547,000.
Overall, institutional investors and hedge funds own an impressive majority – as much as 92.87% – of Digi International’s stock.
In terms of stock performance on Monday’s opening at $40.91 per share, Digi International Inc.’s stock has shown an upward trajectory with a one-year low of $25.92 and a high of $43.68.
Additionally:
– The fifty-day moving average price stands at $37.70
– The 200-day moving average price is $34.96
– The debt-to-equity ratio is currently 0.41
– The current ratio is at 2.02
– Quick ratio stands at 1.03
With a market capitalization of $1.47 billion, Digi International continues to solidify its position as a key player in the IoT industry, offering innovative and secure cellular routers, modules, console servers, and radio frequency products under the brand name Digi XBee.
If you’re interested in learning more about Digi International’s financial activities and insider trades, HoldingsChannel.com provides in-depth information through their latest 13F filings.
Numerous research firms have examined Digi International’s performance recently. StockNews.com downgraded its rating from “buy” to “hold” on May 26th, while Westpark Capital initiated coverage with a favorable report on May 18th, presenting a “buy” rating for the company.
In consensus, Bloomberg reports that analysts have given Digi International Inc. a “Moderate Buy” rating with a target price of $48.00 per share.
This underscores the growing confidence in Digi International’s ability to deliver exceptional IoT products, services, and solutions that meet the evolving needs of businesses worldwide as they navigate the challenges and opportunities presented by digital transformation.
