Faithward Advisors LLC Sells 574 Shares of 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 decreased its holdings in 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. The institutional investor owned 9,227 shares of the company's stock after selling 574 shares during the period. Faithward Advisors LLC's holdings in Ubiquiti were worth $2,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC bought a new stake in shares of Ubiquiti in the first quarter worth $25,000. Brooklyn Investment Group grew its holdings in shares of Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after acquiring an additional 41 shares during the period. Versant Capital Management Inc grew its holdings in shares of Ubiquiti by 484.2% in the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after acquiring an additional 92 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Ubiquiti in the fourth quarter worth $74,000. Finally, AlphaQuest LLC grew its holdings in shares of Ubiquiti by 14,300.0% in the first quarter. AlphaQuest LLC now owns 288 shares of the company's stock worth $89,000 after acquiring an additional 286 shares during the period. Institutional investors own 4.00% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on UI shares. Barclays lifted their price objective on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a report on Friday, August 22nd. BWS Financial lifted their price objective on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, UBS Group set a $600.00 target price on Ubiquiti in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Ubiquiti currently has a consensus rating of "Hold" and a consensus target price of $499.67.

Ubiquiti Trading Down 1.3%

NYSE UI traded down $8.17 on Friday, hitting $604.69. 158,140 shares of the company traded hands, compared to its average volume of 216,660. The business's 50 day moving average price is $472.18 and its 200-day moving average price is $394.26. Ubiquiti Inc. has a 52-week low of $201.26 and a 52-week high of $621.09. The company has a market capitalization of $36.58 billion, a price-to-earnings ratio of 51.38 and a beta of 1.42.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings data on Friday, August 22nd. The company reported $3.54 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 business had revenue of $759.15 million for the quarter, compared to the consensus estimate of $618.80 million. During the same period in the previous year, the business earned $1.74 earnings per share. As a group, sell-side analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

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

Ubiquiti 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.