Ubiquiti Inc. $UI Shares Sold by Ieq Capital LLC

Key Points

• Ieq Capital LLC reduced its stake in Ubiquiti Inc. by 15.6%, selling 867 shares in the first quarter, leaving it with 4,698 shares worth $1.45 million.
• Ubiquiti recently reported $3.54 EPS, significantly exceeding analyst estimates of $2.23, and revenue of $759.15 million for the quarter.
• The company increased its quarterly dividend to $0.80 per share, up from $0.60, indicating a strong commitment to returning value to shareholders.

Ieq Capital LLC lessened its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,698 shares of the company's stock after selling 867 shares during the period. Ieq Capital LLC's holdings in Ubiquiti were worth $1,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in UI. Golden State Wealth Management LLC purchased a new stake in Ubiquiti during the first quarter valued at about $25,000. Brooklyn Investment Group lifted its stake in shares of Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after purchasing an additional 41 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after purchasing an additional 92 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Ubiquiti during the fourth quarter worth about $74,000. Finally, AlphaQuest LLC lifted its stake in shares of Ubiquiti by 14,300.0% during the first quarter. AlphaQuest LLC now owns 288 shares of the company's stock worth $89,000 after purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on UI shares. UBS Group set a $600.00 price objective on Ubiquiti in a research note on Monday, August 25th. 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. Finally, Barclays boosted their price target on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $499.67.

Ubiquiti Trading Up 3.9%

NYSE UI traded up $21.12 on Thursday, hitting $566.09. 182,075 shares of the stock traded hands, compared to its average volume of 117,343. The stock has a 50-day moving average of $446.74 and a 200 day moving average of $381.65. Ubiquiti Inc. has a twelve month low of $186.40 and a twelve month high of $567.59. The company has a market capitalization of $34.24 billion, a P/E ratio of 48.10 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. The firm had revenue of $759.15 million for the quarter, compared to analysts' expectations of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the prior year, the firm posted $1.74 earnings per share. As a group, equities research analysts expect 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 will be paid on Monday, September 8th. Investors of record on Tuesday, September 2nd will be issued a $0.80 dividend. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. Ubiquiti's dividend payout ratio is currently 27.19%.

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.