Municipal Employees Retirement System of Michigan maintained its position in Digi International Inc. (NASDAQ:DGII) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,630 shares of the technology company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Digi International were worth $151,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Digi International during the first quarter worth approximately $106,000. Arizona State Retirement System raised its position in Digi International by 3.0% in the first quarter. Arizona State Retirement System now owns 13,741 shares of the technology company’s stock worth $164,000 after buying an additional 400 shares during the period. Thrivent Financial for Lutherans raised its position in Digi International by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the technology company’s stock worth $193,000 after buying an additional 860 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Digi International by 12.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,076 shares of the technology company’s stock worth $249,000 after buying an additional 2,065 shares during the period. Finally, US Bancorp DE raised its position in Digi International by 2.8% in the first quarter. US Bancorp DE now owns 28,546 shares of the technology company’s stock worth $340,000 after buying an additional 771 shares during the period. Hedge funds and other institutional investors own 77.74% of the company’s stock.

Shares of Digi International Inc. (NASDAQ DGII) opened at 10.15 on Friday. The firm has a market cap of $269.35 million, a P/E ratio of 23.23 and a beta of 1.45. The firm has a 50 day moving average price of $9.74 and a 200-day moving average price of $11.94. Digi International Inc. has a one year low of $9.00 and a one year high of $14.15.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.03. The firm had revenue of $45.61 million during the quarter, compared to the consensus estimate of $48.30 million. Digi International had a return on equity of 3.76% and a net margin of 6.11%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Analysts forecast that Digi International Inc. will post $0.27 earnings per share for the current year.

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A number of equities analysts have commented on the company. Zacks Investment Research upgraded Digi International from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Sidoti upgraded Digi International from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 23rd. TheStreet lowered Digi International from a “b-” rating to a “c+” rating in a research note on Tuesday, May 30th. Finally, Benchmark Co. started coverage on Digi International in a research note on Tuesday, April 25th. They set a “buy” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $15.75.

Digi International Company Profile

Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.

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Institutional Ownership by Quarter for Digi International (NASDAQ:DGII)

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