Ubiquiti Inc. $UI Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Ubiquiti Inc. by 14.5% during Q1 2023, acquiring 3,696 additional shares worth approximately $9 million at the end of the reporting period.
• Ubiquiti reported quarterly earnings of $3.54 per share, significantly exceeding analysts' expectations, and announced a dividend increase from $0.60 to $0.80 per share.
• Analysts have mixed ratings on Ubiquiti, with price targets ranging from $247 to $600, reflecting a consensus rating of "Hold" with an average target of $499.67.

Northern Trust Corp raised its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 14.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 29,172 shares of the company's stock after buying an additional 3,696 shares during the quarter. Northern Trust Corp's holdings in Ubiquiti were worth $9,047,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Ubiquiti in the 1st quarter valued at $25,000. Brooklyn Investment Group grew its stake in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the period. Versant Capital Management Inc grew its stake in shares of Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after purchasing an additional 92 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Ubiquiti during the 4th quarter worth $74,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Ubiquiti during the 1st quarter worth $92,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UI. UBS Group set a $600.00 price target on shares of Ubiquiti in a research note on Monday, August 25th. BWS Financial upped their price target on shares of Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Barclays upped their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research note on Friday, August 22nd. 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 data from MarketBeat, Ubiquiti presently has a consensus rating of "Hold" and an average price target of $499.67.

Ubiquiti Stock Performance

NYSE UI traded up $8.93 during trading hours on Thursday, reaching $614.59. The company's stock had a trading volume of 158,503 shares, compared to its average volume of 222,254. The stock has a market cap of $37.18 billion, a PE ratio of 52.22 and a beta of 1.42. Ubiquiti Inc. has a fifty-two week low of $198.08 and a fifty-two week high of $621.09. The company's 50-day moving average is $468.55 and its two-hundred day moving average is $392.32.

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, beating analysts' consensus estimates 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 net margin of 27.66% and a return on equity of 166.22%. During the same period in the prior year, the company earned $1.74 EPS. Equities analysts expect 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. Investors of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. 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.