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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CreativeOne Wealth LLC increased its holdings in shares of Ubiquiti by 6.9% in the first quarter. CreativeOne Wealth LLC now owns 789 shares of the company's stock valued at $245,000 after purchasing an additional 51 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of Ubiquiti in the first quarter valued at $18,897,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ubiquiti by 225.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 826 shares of the company's stock valued at $256,000 after purchasing an additional 572 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Ubiquiti by 14,300.0% in the first quarter. AlphaQuest LLC now owns 288 shares of the company's stock valued at $89,000 after purchasing an additional 286 shares during the last quarter. Finally, Estate Counselors LLC increased its holdings in shares of Ubiquiti by 1.2% in the first quarter. Estate Counselors LLC now owns 10,842 shares of the company's stock valued at $3,363,000 after purchasing an additional 132 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on UI. Barclays upped their price objective on shares of Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a report on Friday, August 22nd. BWS Financial upped their price objective on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday, August 25th. Finally, UBS Group set a $600.00 price objective on shares of Ubiquiti in a report on Monday, August 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ubiquiti currently has an average rating of "Hold" and an average price target of $499.67.

Ubiquiti Stock Performance

UI stock opened at $607.57 on Thursday. The company's 50-day simple moving average is $464.72 and its 200 day simple moving average is $390.28. Ubiquiti Inc. has a 52 week low of $192.10 and a 52 week high of $616.18. The company has a market capitalization of $36.75 billion, a PE ratio of 51.62 and a beta of 1.42.

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

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. The ex-dividend date was 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 0.5%. Ubiquiti's dividend payout ratio is currently 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.

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