Franklin Resources Inc. Trims Stock Holdings in Ubiquiti Inc. $UI

Franklin Resources Inc. lowered its holdings in Ubiquiti Inc. (NYSE:UI) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,840 shares of the company’s stock after selling 338 shares during the period. Franklin Resources Inc.’s holdings in Ubiquiti were worth $8,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its stake in Ubiquiti by 2.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,307 shares of the company’s stock valued at $538,000 after buying an additional 25 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Ubiquiti by 2.5% in the second quarter. Valeo Financial Advisors LLC now owns 1,025 shares of the company’s stock worth $422,000 after acquiring an additional 25 shares during the period. GAMMA Investing LLC grew its position in shares of Ubiquiti by 20.5% in the second quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock valued at $65,000 after purchasing an additional 27 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Ubiquiti by 4.7% during the 2nd quarter. Wedmont Private Capital now owns 697 shares of the company’s stock valued at $281,000 after purchasing an additional 31 shares during the period. Finally, US Bancorp DE lifted its holdings in Ubiquiti by 2.4% during the 1st quarter. US Bancorp DE now owns 1,564 shares of the company’s stock worth $485,000 after purchasing an additional 37 shares in the last quarter. 4.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. UBS Group set a $600.00 target price on shares of Ubiquiti in a report on Monday, August 25th. BWS Financial reiterated a “buy” rating and issued a $720.00 target price on shares of Ubiquiti in a research note on Tuesday, November 11th. Finally, Barclays boosted their price target on shares of Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $591.67.

Ubiquiti Price Performance

UI stock opened at $583.09 on Friday. The firm has a 50 day simple moving average of $662.86 and a two-hundred day simple moving average of $525.06. The stock has a market cap of $35.28 billion, a PE ratio of 49.54 and a beta of 1.50. Ubiquiti Inc. has a one year low of $255.00 and a one year high of $803.59.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, November 7th. The company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.98. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The firm had revenue of $733.77 million for the quarter, compared to analysts’ expectations of $702.38 million. On average, research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, November 17th. Ubiquiti’s dividend payout ratio is presently 24.46%.

Insider Activity at Ubiquiti

In related news, CAO Kevin Radigan sold 350 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total transaction of $201,803.00. Following the transaction, the chief accounting officer directly owned 2,768 shares of the company’s stock, valued at approximately $1,595,973.44. This trade represents a 11.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 93.10% of the company’s stock.

About Ubiquiti

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.