Ubiquiti Inc. $UI Shares Acquired by Rhumbline Advisers

Key Points

• Rhumbline Advisers boosted its Ubiquiti stake by 856.8% in Q2 to 42,787 shares (about $17.6M), joining several other institutions that established or increased positions during the quarter.
• Ubiquiti reported a strong quarter, beating estimates with EPS of $3.46 (vs. $2.48 expected) and revenue of $733.8M (vs. $702.4M), and posted a 27.7% net margin and 166% return on equity.
• Analyst sentiment is mixed—average rating is a "Hold" (one Buy, two Holds, one Sell) with a consensus target near $591.67; the stock carries a $35.3B market cap and a PE of about 49.5.

Rhumbline Advisers increased its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 856.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,787 shares of the company's stock after purchasing an additional 38,315 shares during the period. Rhumbline Advisers owned 0.07% of Ubiquiti worth $17,613,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in shares of Ubiquiti during the second quarter worth about $885,000. Greenleaf Trust purchased a new stake in Ubiquiti in the 2nd quarter valued at approximately $227,000. Maverick Capital Ltd. acquired a new position in Ubiquiti during the 1st quarter worth approximately $1,293,000. One Wealth Advisors LLC acquired a new position in Ubiquiti during the 2nd quarter worth approximately $219,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Ubiquiti by 72.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,317 shares of the company's stock worth $543,000 after buying an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Insider Buying and Selling at Ubiquiti

In other news, CAO Kevin Radigan sold 350 shares of the firm's stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total transaction of $201,803.00. Following the sale, the chief accounting officer owned 2,768 shares in the company, valued at $1,595,973.44. This trade represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 93.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Ubiquiti from a "buy" rating to a "hold" rating in a research note on Saturday, November 15th. Weiss Ratings reissued a "hold (c+)" rating on shares of Ubiquiti in a report on Tuesday. Zacks Research cut Ubiquiti from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 4th. BWS Financial reaffirmed a "buy" rating and set a $720.00 price target on shares of Ubiquiti in a research note on Tuesday, November 11th. Finally, UBS Group set a $600.00 target price on shares of Ubiquiti in a report on Monday, August 25th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $591.67.

Ubiquiti Trading Up 1.4%

Ubiquiti stock opened at $583.09 on Friday. The stock has a 50-day moving average price of $662.86 and a 200 day moving average price of $524.59. Ubiquiti Inc. has a 52 week low of $255.00 and a 52 week high of $803.59. The stock has a market cap of $35.28 billion, a PE ratio of 49.54 and a beta of 1.50.

Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings results on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.98. The company had revenue of $733.77 million for the quarter, compared to analysts' expectations of $702.38 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. On average, equities analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a $0.80 dividend. The ex-dividend date was Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.5%. Ubiquiti's payout ratio is 24.46%.

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.

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