Baron Wealth Management LLC Invests $382,000 in Ubiquiti Inc. $UI

Key Points

• Baron Wealth Management LLC has acquired 927 shares of Ubiquiti Inc., valued at approximately $382,000, indicating growing interest from institutional investors.
• Ubiquiti reported strong earnings with an EPS of $3.54, significantly beating analysts' expectations, while also announcing an increased quarterly dividend of $0.80.
• The company's stock has recently fluctuated between a low of $204.15 and a high of $621.09, with a current market cap of $36.13 billion.

Baron Wealth Management LLC bought a new position in Ubiquiti Inc. (NYSE:UI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 927 shares of the company's stock, valued at approximately $382,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Ubiquiti in the 1st quarter worth approximately $25,000. Brooklyn Investment Group raised its holdings in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Ubiquiti during the 4th quarter valued at $74,000. Finally, AlphaQuest LLC raised its holdings in shares of Ubiquiti by 14,300.0% during the 1st quarter. AlphaQuest LLC now owns 288 shares of the company's stock valued at $89,000 after purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Performance

Ubiquiti stock traded up $9.20 during trading hours on Friday, hitting $636.22. 237,853 shares of the stock were exchanged, compared to its average volume of 215,571. The stock has a market capitalization of $38.49 billion, a P/E ratio of 54.05 and a beta of 1.42. Ubiquiti Inc. has a 12 month low of $211.90 and a 12 month high of $639.05. The business's 50-day moving average is $493.16 and its two-hundred day moving average is $404.50.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.23 by $1.31. The firm had revenue of $759.15 million for the quarter, compared to analysts' expectations 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 earnings per share. On average, equities analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

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

Analysts Set New Price Targets

UI has been the topic of a number of recent research reports. BWS Financial raised their price target on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday, August 25th. Barclays raised their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the company 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently 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.