Strs Ohio Takes $813,000 Position in Ubiquiti Inc. $UI

Key Points

• Strs Ohio has acquired 2,622 shares of Ubiquiti Inc., valued at approximately $813,000, during the first quarter.
• Ubiquiti reported $3.54 earnings per share for the last quarter, surpassing analysts' expectations of $2.23, with revenue of $759.15 million.
• The company recently increased its quarterly dividend from $0.60 to $0.80, representing an annualized yield of 0.5%.

Strs Ohio bought a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,622 shares of the company's stock, valued at approximately $813,000.

Several other institutional investors have also recently made changes to their positions in UI. Golden State Wealth Management LLC purchased a new stake in shares of Ubiquiti during the first quarter worth $25,000. Brooklyn Investment Group lifted its position in shares of Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after acquiring an additional 41 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after acquiring an additional 92 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Ubiquiti during the fourth quarter worth $74,000. Finally, AlphaQuest LLC lifted its position in shares of Ubiquiti by 14,300.0% during the first quarter. AlphaQuest LLC now owns 288 shares of the company's stock worth $89,000 after acquiring an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Price Performance

NYSE UI traded up $3.62 during trading hours on Tuesday, reaching $645.76. 38,774 shares of the company's stock traded hands, compared to its average volume of 119,300. Ubiquiti Inc. has a 52-week low of $215.39 and a 52-week high of $649.90. The firm has a market cap of $39.06 billion, a PE ratio of 54.91 and a beta of 1.42. The firm has a 50-day simple moving average of $497.75 and a 200 day simple moving average of $407.38.

Ubiquiti (NYSE:UI - Get Free Report) last released 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 analyst estimates of $618.80 million. During the same period last year, the business earned $1.74 EPS. Sell-side analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Tuesday, September 2nd were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a yield of 0.5%. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's payout ratio is currently 27.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. BWS Financial increased their target price on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Barclays upped their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a report on Friday, August 22nd. Finally, UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Ubiquiti has an average rating of "Hold" and a consensus price target of $499.67.

Ubiquiti Company 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.