Port Capital LLC Makes New $24.06 Million Investment in Digi International Inc. $DGII

Port Capital LLC bought a new stake in shares of Digi International Inc. (NASDAQ:DGII) in the second quarter, HoldingsChannel reports. The institutional investor bought 321,072 shares of the technology company’s stock, valued at approximately $24,064,000.

Several other hedge funds have also made changes to their positions in DGII. USA Financial Formulas increased its stake 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 valued at $46,000 after buying an additional 494 shares during the period. Lazard Asset Management LLC grew 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 acquiring an additional 339 shares in the last quarter. Global Retirement Partners LLC bought a new position in Digi International during the 2nd quarter worth about $154,000. State of Wyoming purchased a new position in Digi International during the 2nd quarter valued at about $160,000. Finally, GAMMA Investing LLC increased its position in Digi International by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,576 shares of the technology company’s stock valued at $193,000 after purchasing an additional 374 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Digi International Price Performance

DGII opened at $76.08 on Thursday. The business’s 50-day moving average is $72.30 and its two-hundred day moving average is $61.66. Digi International Inc. has a 1 year low of $33.40 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 firm has a market capitalization of $2.89 billion, a PE ratio of 60.38 and a beta of 0.97.

Digi International (NASDAQ:DGII) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $138.67 million during the quarter, compared to the consensus estimate of $132.57 million. Digi International had a net margin of 9.63% and a return on equity of 12.16%. The firm’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. Research analysts anticipate that Digi International Inc. will post 2.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO James J. Loch sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 167,589 shares in the company, valued at $11,637,380.16. The trade was a 37.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DGII shares. Piper Sandler boosted their price target on shares of Digi International from $63.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. B. Riley Financial lifted their price objective on shares of Digi International from $78.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Roth Capital set a $90.00 price objective on shares of Digi International and gave the stock a “buy” rating in a research note on Thursday, August 6th. Craig Hallum boosted their price objective on shares of Digi International from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered Digi International from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Five 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.40.

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.