Ubiquiti Inc. $UI Shares Bought by Financial Perspectives Inc

Financial Perspectives Inc boosted its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 21.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206 shares of the company’s stock after acquiring an additional 37 shares during the period. Financial Perspectives Inc’s holdings in Ubiquiti were worth $85,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UI. Wealth Enhancement Advisory Services LLC raised its position in Ubiquiti by 1,396.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,235 shares of the company’s stock worth $8,136,000 after acquiring an additional 24,482 shares during the last quarter. Balboa Wealth Partners acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $1,065,000. Golden State Wealth Management LLC acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $50,000. Illinois Municipal Retirement Fund acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $571,000. Finally, Monument Capital Management raised its position in shares of Ubiquiti by 16.2% in the first quarter. Monument Capital Management now owns 1,237 shares of the company’s stock valued at $384,000 after buying an additional 172 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Performance

Shares of UI stock opened at $749.67 on Monday. Ubiquiti Inc. has a one year low of $245.00 and a one year high of $773.95. The company has a 50 day moving average price of $588.80 and a 200 day moving average price of $456.63. The firm has a market capitalization of $45.35 billion, a price-to-earnings ratio of 63.69 and a beta of 1.44.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The company had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. During the same period 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 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The firm 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. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. Ubiquiti’s payout ratio is presently 27.19%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Ubiquiti in a research report on Wednesday, October 8th. UBS Group set a $600.00 price objective on shares of Ubiquiti in a research report on Monday, August 25th. Barclays boosted their price objective on shares of Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a research report on Friday, August 22nd. Finally, BWS Financial upped their price target on shares of Ubiquiti from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ubiquiti currently has a consensus rating of “Hold” and an average target price of $539.67.

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.