Vanguard Group Inc. Sells 10,804 Shares of Ubiquiti Inc. $UI

Key Points

• Vanguard Group Inc. reduced its stake in Ubiquiti Inc. by 11.4%, selling 10,804 shares and holding 83,701 shares valued at $25,959,000.
• Ubiquiti’s stock is currently priced at $530.84, with a market cap of $32.11 billion and a reported EPS of $3.54 that exceeded analyst expectations.
• The company announced a quarterly dividend increase to $0.80, up from the previous $0.60, reflecting a yield of 0.6% for investors of record as of September 2nd.

Vanguard Group Inc. cut its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 11.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,701 shares of the company's stock after selling 10,804 shares during the quarter. Vanguard Group Inc. owned 0.14% of Ubiquiti worth $25,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TD Asset Management Inc bought a new stake in Ubiquiti during the 1st quarter worth approximately $34,013,000. Pacer Advisors Inc. increased its stake in Ubiquiti by 76.2% during the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock worth $33,785,000 after purchasing an additional 47,109 shares in the last quarter. AQR Capital Management LLC increased its stake in Ubiquiti by 100.1% during the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after purchasing an additional 49,616 shares in the last quarter. GAMMA Investing LLC increased its stake in Ubiquiti by 37,116.4% during the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock worth $12,697,000 after purchasing an additional 40,828 shares in the last quarter. Finally, Abacus FCF Advisors LLC increased its stake in Ubiquiti by 654.4% during the 1st quarter. Abacus FCF Advisors LLC now owns 33,116 shares of the company's stock worth $10,271,000 after purchasing an additional 28,726 shares in the last quarter. 4.00% of the stock is owned by institutional investors.

Ubiquiti Stock Up 1.2%

UI stock opened at $530.84 on Friday. The company has a market cap of $32.11 billion, a PE ratio of 45.10 and a beta of 1.35. The business has a 50-day simple moving average of $435.22 and a 200 day simple moving average of $376.47. Ubiquiti Inc. has a 52 week low of $186.40 and a 52 week high of $543.99.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $1.31. The business had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the previous year, the firm earned $1.74 earnings per share. On average, analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Tuesday, September 2nd will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, September 2nd. Ubiquiti's payout ratio is presently 27.19%.

Analyst Ratings Changes

A number of analysts recently issued reports on UI shares. BWS Financial increased their target price on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday. UBS Group set a $600.00 target price on shares of Ubiquiti in a research note on Monday. Finally, Barclays raised their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the company 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 assigned a Sell rating to the company. Based on data from MarketBeat, Ubiquiti presently has an average rating of "Hold" and a consensus target price of $499.67.

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.

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