Faithward Advisors LLC Trims Holdings in Ubiquiti Inc. $UI

Key Points

• Faithward Advisors LLC reduced its stake in Ubiquiti Inc. by 5.9%, owning 9,227 shares after selling 574 shares during the first quarter.
• Ubiquiti recently declared a quarterly dividend of $0.80 per share, an increase from its previous dividend of $0.60, with a dividend yield of 0.6%.
• Ubiquiti's latest earnings report revealed an EPS of $3.54, surpassing the consensus estimate of $2.23, with revenue of $759.15 million compared to the expected $618.80 million.

Faithward Advisors LLC reduced its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,227 shares of the company's stock after selling 574 shares during the quarter. Faithward Advisors LLC's holdings in Ubiquiti were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caxton Associates LLP purchased a new stake in Ubiquiti in the first quarter worth $1,844,000. Goldman Sachs Group Inc. increased its position in shares of Ubiquiti by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company's stock valued at $10,494,000 after buying an additional 8,551 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Ubiquiti by 139.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 45,142 shares of the company's stock valued at $14,000,000 after buying an additional 26,309 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of Ubiquiti by 10.4% in the 1st quarter. Gotham Asset Management LLC now owns 35,662 shares of the company's stock valued at $11,060,000 after purchasing an additional 3,366 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company's stock valued at $70,521,000 after purchasing an additional 132,816 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Price Performance

UI stock opened at $575.93 on Monday. The stock has a market capitalization of $34.84 billion, a price-to-earnings ratio of 48.93 and a beta of 1.42. The business has a fifty day moving average price of $453.59 and a 200 day moving average price of $385.46. Ubiquiti Inc. has a fifty-two week low of $186.40 and a fifty-two week high of $577.05.

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

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.6%. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, September 2nd. Ubiquiti's dividend payout ratio (DPR) is currently 27.19%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent research reports. UBS Group set a $600.00 price objective on Ubiquiti in a research report on Monday, August 25th. Barclays raised their price target on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a report on Friday, August 22nd. Finally, BWS Financial boosted their price objective on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.

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