Ubiquiti Inc. $UI Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its stake in Ubiquiti Inc. (NYSE:UI) by 101.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 579 shares of the company’s stock after acquiring an additional 291 shares during the quarter. AlphaQuest LLC’s holdings in Ubiquiti were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UI. SW Investment Management LLC lifted its position in shares of Ubiquiti by 7.4% during the first quarter. SW Investment Management LLC now owns 290,000 shares of the company’s stock worth $89,941,000 after purchasing an additional 20,000 shares in the last quarter. AQR Capital Management LLC increased its stake in Ubiquiti by 133.9% during the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock worth $70,521,000 after buying an additional 132,816 shares during the period. TD Asset Management Inc purchased a new stake in Ubiquiti during the 1st quarter worth $34,013,000. Pacer Advisors Inc. lifted its holdings in Ubiquiti by 76.2% in the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock worth $33,785,000 after buying an additional 47,109 shares in the last quarter. Finally, Epoch Investment Partners Inc. purchased a new position in Ubiquiti in the 1st quarter valued at about $18,897,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Analyst Ratings Changes

UI has been the topic of a number of analyst reports. UBS Group set a $600.00 target price on Ubiquiti in a research report on Monday, August 25th. Barclays raised their price objective on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ubiquiti in a research report on Wednesday, October 8th. Finally, BWS Financial increased their target price on Ubiquiti from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $539.67.

Ubiquiti Stock Performance

Shares of NYSE:UI opened at $786.25 on Friday. The company’s fifty day moving average is $650.86 and its two-hundred day moving average is $487.85. Ubiquiti Inc. has a 1-year low of $245.00 and a 1-year high of $796.28. The stock has a market capitalization of $47.57 billion, a price-to-earnings ratio of 66.80 and a beta of 1.44.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The business 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 earned $1.74 EPS. Sell-side analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Tuesday, September 2nd were given a $0.80 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a yield of 0.4%. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s payout ratio 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.