Bank of New York Mellon Corp Takes $30.09 Million Position in Ubiquiti Inc. $UI

Key Points

• Bank of New York Mellon acquired 56,337 Ubiquiti shares worth approximately $30.1 million, giving it a 0.09% stake. Institutional investors collectively own about 4% of the company.
• Analyst sentiment is mixed, with one Buy, two Hold, and one Sell rating; the consensus rating is Hold with a $734.50 target price. Barclays cut its target to $489 and maintained an Underweight rating.
• Ubiquiti exceeded quarterly expectations, reporting $4.73 EPS and $937.32 million in revenue, while increasing its quarterly dividend from $0.80 to $1.00 per share.

Bank of New York Mellon Corp purchased a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 56,337 shares of the company's stock, valued at approximately $30,086,000. Bank of New York Mellon Corp owned 0.09% of Ubiquiti as of its most recent SEC filing.

Several other large investors have also modified their holdings of UI. Vision Retirement LLC acquired a new position in Ubiquiti during the first quarter worth $25,000. Quarry LP acquired a new stake in shares of Ubiquiti in the 3rd quarter worth approximately $34,000. CIBC Private Wealth Group LLC increased its stake in Ubiquiti by 238.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company's stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Cherry Tree Wealth Management LLC increased its stake in Ubiquiti by 50.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company's stock valued at $42,000 after purchasing an additional 25 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Ubiquiti by 216.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 79 shares of the company's stock worth $44,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays cut their price target on Ubiquiti from $672.00 to $489.00 and set an "underweight" rating for the company in a research note on Monday, August 24th. Weiss Ratings downgraded shares of Ubiquiti from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Zacks Research lowered shares of Ubiquiti from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 14th. Finally, BWS Financial reiterated a "buy" rating and issued a $980.00 price target on shares of Ubiquiti in a research report on Thursday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $734.50.

Ubiquiti Stock Performance

Ubiquiti stock opened at $601.03 on Friday. Ubiquiti Inc. has a 1 year low of $505.73 and a 1 year high of $1,099.99. The firm has a 50 day moving average price of $553.37 and a 200 day moving average price of $690.24. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 37.92 and a beta of 1.31.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings results on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.03 by $0.70. The firm had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.During the same quarter in the previous year, the business earned $4.41 earnings per share. Sell-side analysts predict that Ubiquiti Inc. will post 15.53 EPS for the current year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.00 per share. This is an increase from Ubiquiti's previous quarterly dividend of $0.80. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Ubiquiti's payout ratio is 20.19%.

Ubiquiti 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.

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