Ubiquiti (NYSE:UI) Cut to Hold at Zacks Research

Zacks Research lowered shares of Ubiquiti (NYSE:UI) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. BWS Financial upped their price target on shares of Ubiquiti from $720.00 to $980.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Wall Street Zen raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, April 19th. Barclays upped their price objective on shares of Ubiquiti from $455.00 to $527.00 and gave the stock an “underweight” rating in a report on Friday, February 6th. Finally, Weiss Ratings raised shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ubiquiti presently has a consensus rating of “Hold” and a consensus target price of $702.33.

Ubiquiti Stock Performance

Ubiquiti stock opened at $1,038.43 on Tuesday. The company has a 50-day simple moving average of $827.29 and a 200-day simple moving average of $687.38. The firm has a market capitalization of $62.85 billion, a P/E ratio of 70.74 and a beta of 1.32. Ubiquiti has a one year low of $302.76 and a one year high of $1,099.99.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, February 6th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.08 by $0.80. The business had revenue of $814.87 million during the quarter, compared to analyst estimates of $716.95 million. Ubiquiti had a net margin of 29.90% and a return on equity of 113.21%. The company’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.28 earnings per share. As a group, sell-side analysts forecast that Ubiquiti will post 14.04 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, February 17th. Ubiquiti’s dividend payout ratio is presently 21.80%.

Institutional Investors Weigh In On Ubiquiti

A number of institutional investors and hedge funds have recently bought and sold shares of UI. Corient Private Wealth LLC lifted its holdings in Ubiquiti by 73,940.4% in the 4th quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock valued at $616,193,000 after acquiring an additional 1,112,064 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Ubiquiti by 244.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,916 shares of the company’s stock valued at $88,815,000 after buying an additional 110,632 shares in the last quarter. M&T Bank Corp lifted its stake in Ubiquiti by 7,845.7% during the fourth quarter. M&T Bank Corp now owns 98,527 shares of the company’s stock valued at $54,520,000 after buying an additional 97,287 shares in the last quarter. Capital World Investors lifted its stake in Ubiquiti by 315.9% during the third quarter. Capital World Investors now owns 86,086 shares of the company’s stock valued at $56,867,000 after buying an additional 65,386 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Ubiquiti by 47.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 163,960 shares of the company’s stock valued at $108,309,000 after buying an additional 52,744 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Company Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.