Milestone Asset Management LLC increased its position in shares of Ubiquiti Inc. (NYSE:UI – Free Report) by 78.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,283 shares of the company’s stock after purchasing an additional 1,007 shares during the period. Milestone Asset Management LLC’s holdings in Ubiquiti were worth $1,296,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of UI. Vision Retirement LLC acquired a new stake in Ubiquiti in the first quarter valued at $25,000. Fortitude Family Office LLC boosted its position in shares of Ubiquiti by 109.5% during the 3rd quarter. Fortitude Family Office LLC now owns 44 shares of the company’s stock worth $25,000 after acquiring an additional 23 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of Ubiquiti during the 2nd quarter worth about $35,000. Pinnacle Holdings LLC purchased a new position in shares of Ubiquiti in the 2nd quarter valued at about $49,000. Finally, CX Institutional purchased a new position in shares of Ubiquiti in the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on UI. Barclays cut their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a research report on Monday, August 24th. BWS Financial reaffirmed a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a report on Tuesday, September 29th. Zacks Research upgraded shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. Finally, Weiss Ratings upgraded shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $734.50.
View Our Latest Research Report on Ubiquiti
Ubiquiti Price Performance
Shares of UI opened at $618.29 on Friday. Ubiquiti Inc. has a 1-year low of $500.23 and a 1-year high of $1,099.99. The stock has a market cap of $37.43 billion, a PE ratio of 39.01 and a beta of 1.30. The firm has a fifty day moving average price of $585.05 and a 200 day moving average price of $649.00.
Ubiquiti (NYSE:UI – Get Free Report) last released its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.70. The company had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter in the prior year, the firm posted $4.41 earnings per share. As a group, equities analysts expect that Ubiquiti Inc. will post 16.94 EPS for the current fiscal year.
Ubiquiti Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were given a $1.00 dividend. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. Ubiquiti’s payout ratio is currently 25.24%.
Ubiquiti Company Profile
Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.
Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.
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