American Century Companies Inc. Grows Stock Position in Ubiquiti Inc. $UI

American Century Companies Inc. lifted its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,471 shares of the company's stock after acquiring an additional 2,234 shares during the quarter. American Century Companies Inc.'s holdings in Ubiquiti were worth $1,697,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Ubiquiti during the 1st quarter valued at $25,000. Versant Capital Management Inc increased its position in Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after buying an additional 92 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Ubiquiti in the 4th quarter valued at about $74,000. New Age Alpha Advisors LLC bought a new stake in Ubiquiti in the 1st quarter valued at about $92,000. Finally, Raleigh Capital Management Inc. increased its holdings in Ubiquiti by 26.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock worth $112,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company's stock.

Analysts Set New Price Targets

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

Ubiquiti Price Performance

Shares of NYSE:UI traded up $10.80 during trading on Friday, hitting $575.93. 138,145 shares of the company were exchanged, compared to its average volume of 210,074. The company has a market cap of $34.84 billion, a PE ratio of 48.93 and a beta of 1.42. The stock has a 50 day moving average of $453.59 and a 200 day moving average of $384.84. Ubiquiti Inc. has a 52-week low of $186.40 and a 52-week high of $577.05.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings data 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 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 quarter last year, the business posted $1.74 earnings per share. Sell-side analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. Ubiquiti's dividend payout ratio (DPR) is 27.19%.

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.