Zacks Research upgraded shares of Ubiquiti (NYSE:UI – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.
Several other research analysts also recently commented on the stock. BWS Financial restated a “buy” rating and issued a $980.00 price objective on shares of Ubiquiti in a report on Wednesday, July 8th. Barclays upped their price target on Ubiquiti from $527.00 to $672.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings cut Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ubiquiti currently has an average rating of “Moderate Buy” and an average target price of $750.67.
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Ubiquiti Stock Up 0.3%
Ubiquiti (NYSE:UI – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $3.88 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.41). Ubiquiti had a return on equity of 95.62% and a net margin of 30.43%.The company had revenue of $788.20 million during the quarter, compared to the consensus estimate of $814.30 million. Ubiquiti’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts expect that Ubiquiti will post 14.82 EPS for the current fiscal year.
Ubiquiti Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, May 18th. Ubiquiti’s dividend payout ratio (DPR) is currently 20.57%.
Institutional Trading of Ubiquiti
A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in Ubiquiti by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company’s stock worth $10,494,000 after purchasing an additional 8,551 shares during the last quarter. Woodline Partners LP increased its holdings in Ubiquiti by 22.1% in the 1st quarter. Woodline Partners LP now owns 1,214 shares of the company’s stock worth $377,000 after acquiring an additional 220 shares in the last quarter. Jane Street Group LLC raised its position in shares of Ubiquiti by 12.9% during the 1st quarter. Jane Street Group LLC now owns 13,768 shares of the company’s stock valued at $4,270,000 after purchasing an additional 1,570 shares during the period. Cetera Investment Advisers purchased a new stake in Ubiquiti in the 2nd quarter worth $312,000. Finally, Legal & General Group Plc raised its stake in Ubiquiti by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 792 shares of the company’s stock valued at $326,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.
About Ubiquiti
Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.
The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.
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