Sequoia Financial Advisors LLC Takes $232,000 Position in Ubiquiti Inc. $UI

Key Points

• Sequoia Financial Advisors LLC has acquired a new stake in Ubiquiti Inc. worth approximately $232,000, purchasing 563 shares during the second quarter.
• Ubiquiti reported a significantly higher than expected earnings per share of $3.54 for the quarter, exceeding analysts' estimates of $2.23, alongside revenue of $759.15 million.
• The company announced an increase in its quarterly dividend from $0.60 to $0.80 per share, signaling a positive outlook with a current annualized dividend yield of 0.4%.

Sequoia Financial Advisors LLC purchased a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 563 shares of the company's stock, valued at approximately $232,000.

Other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund bought a new stake in shares of Ubiquiti in the 1st quarter valued at about $571,000. Greenleaf Trust bought a new stake in shares of Ubiquiti in the 2nd quarter valued at about $227,000. Maverick Capital Ltd. bought a new stake in shares of Ubiquiti in the 1st quarter valued at about $1,293,000. One Wealth Advisors LLC bought a new stake in shares of Ubiquiti in the 2nd quarter valued at about $219,000. Finally, Baron Wealth Management LLC bought a new stake in shares of Ubiquiti in the 2nd quarter valued at about $382,000. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Trading Up 3.5%

UI opened at $715.63 on Friday. Ubiquiti Inc. has a 12-month low of $245.00 and a 12-month high of $773.95. The firm has a market capitalization of $43.29 billion, a PE ratio of 60.80 and a beta of 1.44. The firm has a 50 day moving average of $609.22 and a two-hundred day moving average of $466.26.

Ubiquiti (NYSE:UI - Get Free Report) last posted 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 company had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. During the same period last year, the firm posted $1.74 EPS. As a group, analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 0.4%. Ubiquiti's payout ratio is presently 27.19%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent analyst reports. Barclays lifted their target price 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. UBS Group set a $600.00 target price on shares of Ubiquiti in a research note on Monday, August 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ubiquiti in a research note on Wednesday, October 8th. Finally, BWS Financial lifted their target price on shares of Ubiquiti from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $539.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.