Atria Wealth Solutions Inc. Invests $247,000 in Ubiquiti Inc. $UI

Atria Wealth Solutions Inc. acquired a new position in shares of Ubiquiti Inc. (NYSE:UI) during the second quarter, Holdings Channel reports. The institutional investor acquired 600 shares of the company’s stock, valued at approximately $247,000.

A number of other large investors have also modified their holdings of UI. Wealth Enhancement Advisory Services LLC increased its position in shares of Ubiquiti by 1,396.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,235 shares of the company’s stock worth $8,136,000 after acquiring an additional 24,482 shares during the period. Balboa Wealth Partners purchased a new stake in shares of Ubiquiti during the first quarter worth $1,065,000. Golden State Wealth Management LLC purchased a new stake in shares of Ubiquiti during the first quarter worth $50,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Ubiquiti during the first quarter worth $571,000. Finally, Monument Capital Management increased its position in shares of Ubiquiti by 16.2% during the first quarter. Monument Capital Management now owns 1,237 shares of the company’s stock worth $384,000 after acquiring an additional 172 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Price Performance

NYSE UI opened at $718.69 on Wednesday. Ubiquiti Inc. has a 1 year low of $245.00 and a 1 year high of $773.95. The company has a market capitalization of $43.47 billion, a PE ratio of 61.06 and a beta of 1.44. The company has a fifty day moving average of $599.10 and a two-hundred day moving average of $461.66.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The company had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. During the same quarter in the prior year, the firm posted $1.74 earnings per share. On average, research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This is a boost from Ubiquiti’s previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. Ubiquiti’s payout ratio is currently 27.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on UI shares. Barclays boosted their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a research note on Wednesday, October 8th. UBS Group set a $600.00 target price on shares of Ubiquiti in a research note on Monday, August 25th. Finally, BWS Financial boosted their target price on shares of Ubiquiti from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $539.67.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.