Vident Advisory LLC Makes New $203,000 Investment in Ubiquiti Inc. $UI

Key Points

• Vident Advisory LLC has acquired 654 shares of Ubiquiti Inc., totaling approximately $203,000 in value during the 1st quarter.
• Ubiquiti reported an EPS of $3.54 for the last quarter, significantly above the consensus estimate, with a revenue of $759.15 million.
• The company recently increased its quarterly dividend from $0.60 to $0.80 per share, signaling positive financial trends.

Vident Advisory LLC bought a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 654 shares of the company's stock, valued at approximately $203,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund acquired a new stake in Ubiquiti during the 1st quarter valued at approximately $571,000. Federated Hermes Inc. purchased a new stake in shares of Ubiquiti during the first quarter worth about $404,000. Entropy Technologies LP purchased a new stake in shares of Ubiquiti during the first quarter worth approximately $327,000. SW Investment Management LLC raised its position in shares of Ubiquiti by 7.4% in the first quarter. SW Investment Management LLC now owns 290,000 shares of the company's stock valued at $89,941,000 after buying an additional 20,000 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Ubiquiti in the 4th quarter worth approximately $484,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Stock Down 2.8%

Ubiquiti stock traded down $17.25 during midday trading on Tuesday, reaching $597.24. The company's stock had a trading volume of 190,221 shares, compared to its average volume of 213,779. The business has a 50-day simple moving average of $479.92 and a 200-day simple moving average of $398.36. The company has a market cap of $36.13 billion, a P/E ratio of 50.74 and a beta of 1.42. Ubiquiti Inc. has a fifty-two week low of $204.15 and a fifty-two week high of $621.09.

Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, August 22nd. The company reported $3.54 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 business had revenue of $759.15 million for the quarter, compared to analysts' expectations of $618.80 million. During the same quarter in the previous year, the firm earned $1.74 earnings per share. As a group, equities analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

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

Analyst Ratings Changes

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

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.