Maverick Capital Ltd. Takes $1.29 Million Position in Ubiquiti Inc. $UI

Key Points

• Maverick Capital Ltd. acquired 4,169 shares of Ubiquiti Inc., valued at approximately $1.29 million, in their recent SEC filing.
• Ubiquiti recently reported a quarterly EPS of $3.54, surpassing expectations of $2.23, with revenue of $759.15 million for the quarter.
• The company announced an increase in their quarterly dividend to $0.80, up from $0.60, representing an annualized yield of 0.6%.

Maverick Capital Ltd. bought a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,169 shares of the company's stock, valued at approximately $1,293,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UI. TD Asset Management Inc acquired a new stake in shares of Ubiquiti in the 1st quarter valued at about $34,013,000. Epoch Investment Partners Inc. acquired a new position in shares of Ubiquiti in the 1st quarter valued at $18,897,000. Pacer Advisors Inc. increased its holdings in shares of Ubiquiti by 76.2% in the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock valued at $33,785,000 after acquiring an additional 47,109 shares during the period. GAMMA Investing LLC increased its holdings in shares of Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock valued at $12,697,000 after acquiring an additional 40,828 shares during the period. Finally, Nuveen LLC acquired a new position in Ubiquiti in the 1st quarter valued at $11,363,000. Institutional investors and hedge funds own 4.00% of the company's stock.

Ubiquiti Stock Up 3.9%

Shares of Ubiquiti stock traded up $21.12 on Thursday, hitting $566.09. The company's stock had a trading volume of 182,075 shares, compared to its average volume of 204,857. Ubiquiti Inc. has a 52-week low of $186.40 and a 52-week high of $567.59. The firm has a fifty day moving average price of $450.13 and a 200-day moving average price of $383.20. The company has a market capitalization of $34.24 billion, a P/E ratio of 48.10 and a beta of 1.42.

Ubiquiti (NYSE:UI - Get Free Report) last released its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $1.31. The company had revenue of $759.15 million for the quarter, compared to analyst estimates of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. During the same period in the prior year, the firm earned $1.74 EPS. As a group, analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.6%. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, September 2nd. Ubiquiti's dividend payout ratio is 27.19%.

Analyst Upgrades and Downgrades

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