Capital Impact Advisors LLC Buys New Position in Ubiquiti Inc. $UI

Key Points

• Capital Impact Advisors LLC has acquired a new stake in Ubiquiti Inc., purchasing 22,691 shares worth approximately $7,037,000, making the stock its 20th largest holding.
• Ubiquiti recently reported earnings of $3.54 per share, significantly surpassing analysts' expectations, along with impressive quarterly revenue of $759.15 million.
• The company has increased its quarterly dividend from $0.60 to $0.80, reflecting a strong financial position and a dividend yield of 0.5%.

Capital Impact Advisors LLC bought a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,691 shares of the company's stock, valued at approximately $7,037,000. Ubiquiti accounts for approximately 2.7% of Capital Impact Advisors LLC's investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in UI. Illinois Municipal Retirement Fund bought a new stake in shares of Ubiquiti in the 1st quarter worth approximately $571,000. Maverick Capital Ltd. bought a new stake in shares of Ubiquiti in the 1st quarter worth approximately $1,293,000. Federated Hermes Inc. bought a new stake in shares of Ubiquiti in the 1st quarter worth approximately $404,000. Entropy Technologies LP bought a new stake in shares of Ubiquiti in the 1st quarter worth approximately $327,000. Finally, SW Investment Management LLC lifted its position in shares of Ubiquiti by 7.4% in the 1st quarter. SW Investment Management LLC now owns 290,000 shares of the company's stock worth $89,941,000 after acquiring an additional 20,000 shares during the period. Institutional investors own 4.00% of the company's stock.

Ubiquiti Price Performance

Ubiquiti stock opened at $599.21 on Wednesday. The company has a market capitalization of $36.25 billion, a PE ratio of 50.91 and a beta of 1.42. Ubiquiti Inc. has a one year low of $190.43 and a one year high of $599.61. The business has a 50 day simple moving average of $460.81 and a 200 day simple moving average of $388.77.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The firm had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. During the same quarter in the previous year, the company posted $1.74 EPS. Equities analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on UI. 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 Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Finally, Barclays raised their price objective on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.

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