Ubiquiti Inc. $UI Shares Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Ubiquiti Inc. by 139.7% in Q1 2023, acquiring an additional 26,309 shares, bringing its total to 45,142 shares valued at approximately $14 million.
• Ubiquiti reported a strong earnings performance with a Q1 EPS of $3.54, significantly beating analysts' expectations, alongside a revenue of $759.15 million.
• The company announced a quarterly dividend increase from $0.60 to $0.80 per share, indicating a positive outlook with a dividend yield of 0.6%.

Jacobs Levy Equity Management Inc. boosted its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 139.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,142 shares of the company's stock after acquiring an additional 26,309 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.07% of Ubiquiti worth $14,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UI. Northern Trust Corp lifted its position in Ubiquiti by 54.2% in the fourth quarter. Northern Trust Corp now owns 25,476 shares of the company's stock valued at $8,456,000 after acquiring an additional 8,955 shares during the last quarter. Jane Street Group LLC lifted its position in Ubiquiti by 826.2% in the fourth quarter. Jane Street Group LLC now owns 12,198 shares of the company's stock valued at $4,049,000 after acquiring an additional 10,881 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Ubiquiti in the fourth quarter valued at $338,000. Ameriprise Financial Inc. lifted its position in Ubiquiti by 98.9% in the fourth quarter. Ameriprise Financial Inc. now owns 19,828 shares of the company's stock valued at $6,581,000 after acquiring an additional 9,858 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Ubiquiti in the fourth quarter valued at $484,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Price Performance

Shares of NYSE:UI traded down $11.55 on Friday, reaching $601.32. The company's stock had a trading volume of 63,264 shares, compared to its average volume of 117,865. Ubiquiti Inc. has a 52-week low of $201.26 and a 52-week high of $621.09. The stock's 50-day moving average is $468.55 and its two-hundred day moving average is $392.32. The stock has a market capitalization of $36.37 billion, a P/E ratio of 51.09 and a beta of 1.42.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The business had revenue of $759.15 million for the quarter, compared to analyst estimates of $618.80 million. During the same period in the previous year, the business posted $1.74 earnings per share. Equities 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. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, September 2nd. Ubiquiti's dividend payout ratio (DPR) is presently 27.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UI. Barclays boosted their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a research report on Friday, August 22nd. BWS Financial upped their target price on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday, August 25th. Finally, UBS Group set a $600.00 target price on shares of Ubiquiti in a report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $499.67.

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.