Northern Trust Corp Raises Position in Ubiquiti Inc. $UI

Northern Trust Corp raised its holdings in Ubiquiti Inc. (NYSE:UI) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,172 shares of the company’s stock after acquiring an additional 3,696 shares during the period. Northern Trust Corp’s holdings in Ubiquiti were worth $9,047,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in UI. Golden State Wealth Management LLC purchased a new stake in Ubiquiti during the first quarter valued at about $25,000. Brooklyn Investment Group lifted its stake in shares of Ubiquiti by 78.8% in the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after purchasing an additional 41 shares during the period. Versant Capital Management Inc lifted its stake in shares of Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock valued at $34,000 after purchasing an additional 92 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Ubiquiti in the 4th quarter worth approximately $74,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Ubiquiti in the 1st quarter worth approximately $92,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UI. Barclays boosted their price target on Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a research note on Friday, August 22nd. UBS Group set a $600.00 price target on Ubiquiti in a research note on Monday, August 25th. Finally, BWS Financial raised their price objective on Ubiquiti from $440.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $499.67.

Ubiquiti Trading Up 1.9%

Shares of NYSE UI opened at $575.93 on Friday. The stock’s fifty day simple moving average is $453.59 and its two-hundred day simple moving average is $384.84. The stock has a market capitalization of $34.84 billion, a PE ratio of 48.93 and a beta of 1.42. Ubiquiti Inc. has a 12-month low of $186.40 and a 12-month high of $577.05.

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

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s dividend payout ratio (DPR) is 27.19%.

Ubiquiti 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.