Bayforest Capital Ltd Sells 407 Shares of Ubiquiti Inc. $UI

Key Points

• Bayforest Capital Ltd reduced its holdings in Ubiquiti Inc. by 62.7%, selling 407 shares and holding 242 shares valued at $100,000 after the sale.
• Ubiquiti declared a quarterly dividend of $0.80 per share, an increase from its previous dividend of $0.60, with a current dividend yield of 0.4%.
• Wall Street analysts have set varying price targets for Ubiquiti, with BWS Financial raising its target to $720.00 while Barclays set it at $299.00, reflecting diverse outlooks on the stock.

Bayforest Capital Ltd cut its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 62.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242 shares of the company's stock after selling 407 shares during the quarter. Bayforest Capital Ltd's holdings in Ubiquiti were worth $100,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Ubiquiti by 2.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,307 shares of the company's stock worth $538,000 after acquiring an additional 25 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Ubiquiti by 2.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,025 shares of the company's stock valued at $422,000 after purchasing an additional 25 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Ubiquiti by 20.5% during the second quarter. GAMMA Investing LLC now owns 159 shares of the company's stock worth $65,000 after buying an additional 27 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Ubiquiti by 4.7% during the second quarter. Wedmont Private Capital now owns 697 shares of the company's stock worth $281,000 after buying an additional 31 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Ubiquiti by 2.4% during the first quarter. US Bancorp DE now owns 1,564 shares of the company's stock worth $485,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UI shares. UBS Group set a $600.00 price objective on Ubiquiti in a research report on Monday, August 25th. BWS Financial raised their price objective on shares of Ubiquiti from $600.00 to $720.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings reissued a "hold (c+)" rating on shares of Ubiquiti in a report on Wednesday, October 8th. Finally, Barclays raised their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $539.67.

Ubiquiti Trading Down 0.6%

NYSE UI opened at $749.67 on Friday. The firm has a market capitalization of $45.35 billion, a PE ratio of 63.69 and a beta of 1.44. The business's 50-day moving average price is $588.80 and its two-hundred day moving average price is $454.56. Ubiquiti Inc. has a 12 month low of $245.00 and a 12 month high of $773.95.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping 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 return on equity of 166.22% and a net margin of 27.66%.During the same period in the previous year, the firm earned $1.74 earnings per share. As a group, analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.4%. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, September 2nd. Ubiquiti's payout ratio is currently 27.19%.

About Ubiquiti

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.

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