GAMMA Investing LLC Purchases 27 Shares of Ubiquiti Inc. $UI

GAMMA Investing LLC grew its holdings in Ubiquiti Inc. (NYSE:UI) by 20.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159 shares of the company’s stock after acquiring an additional 27 shares during the quarter. GAMMA Investing LLC’s holdings in Ubiquiti were worth $65,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund bought a new stake in Ubiquiti during the first quarter worth about $571,000. Maverick Capital Ltd. acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $1,293,000. Federated Hermes Inc. acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $404,000. Baron Wealth Management LLC acquired a new position in shares of Ubiquiti in the second quarter valued at approximately $382,000. Finally, Entropy Technologies LP acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $327,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on UI. BWS Financial upped their price objective on Ubiquiti from $440.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, August 25th. UBS Group set a $600.00 target price on Ubiquiti in a report on Monday, August 25th. Barclays upped their target price on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ubiquiti currently has a consensus rating of “Hold” and an average target price of $499.67.

Ubiquiti Stock Down 2.4%

Shares of NYSE:UI opened at $661.75 on Friday. Ubiquiti Inc. has a twelve month low of $220.41 and a twelve month high of $689.36. The stock’s 50 day moving average is $536.77 and its 200-day moving average is $427.66. The firm has a market capitalization of $40.03 billion, a price-to-earnings ratio of 56.22 and a beta of 1.44.

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

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Tuesday, September 2nd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s payout ratio is currently 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.