Ubiquiti Inc. $UI Stock Position Increased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Ubiquiti Inc. by 225.2% in Q1, owning 826 shares worth $256,000 after acquiring an additional 572 shares.
• Ubiquiti reported quarterly earnings of $3.54 EPS, beating estimates of $2.23, with revenues reaching $759.15 million compared to expectations of $618.80 million.
• The company announced an increase in its quarterly dividend to $0.80, marking a rise from the previous $0.60, and set to yield 0.6% for shareholders.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 225.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 826 shares of the company's stock after acquiring an additional 572 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Ubiquiti were worth $256,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Ubiquiti during the first quarter valued at $25,000. Brooklyn Investment Group boosted 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 valued at $29,000 after acquiring an additional 41 shares during the last quarter. Versant Capital Management Inc boosted 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 valued at $34,000 after acquiring an additional 92 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Ubiquiti during the fourth quarter valued at $74,000. Finally, AlphaQuest LLC boosted 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 valued at $89,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company's stock.

Ubiquiti Stock Performance

Shares of NYSE:UI traded up $8.54 during mid-day trading on Tuesday, hitting $592.07. 28,183 shares of the company traded hands, compared to its average volume of 117,141. The firm has a market cap of $35.81 billion, a P/E ratio of 50.15 and a beta of 1.42. Ubiquiti Inc. has a 52-week low of $190.43 and a 52-week high of $592.19. The firm's 50 day simple moving average is $457.02 and its 200 day simple moving average is $387.30.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping 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 company 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 EPS. Equities research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Tuesday, September 2nd were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 0.5%. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's payout ratio is presently 27.19%.

Analyst Upgrades and Downgrades

UI has been the topic of several recent analyst reports. Barclays increased their target price on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. UBS Group set a $600.00 target price on Ubiquiti in a research report on Monday, August 25th. Finally, BWS Financial increased their target price on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ubiquiti has a consensus rating of "Hold" and an average target price of $499.67.

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.