Legal & General Group Plc Takes Position in Ubiquiti Inc. $UI

Legal & General Group Plc bought a new position in shares of Ubiquiti Inc. (NYSE:UI) during the second quarter, according to its most recent filing with the SEC. The fund bought 16,602 shares of the company’s stock, valued at approximately $8,867,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Corient Private Wealth LLC grew its position in Ubiquiti by 73,940.4% during the fourth quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock valued at $616,193,000 after buying an additional 1,112,064 shares during the period. BlackRock Inc. bought a new stake in Ubiquiti in the second quarter worth about $163,010,000. Arrowstreet Capital Limited Partnership boosted its stake in Ubiquiti by 11.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 183,464 shares of the company’s stock valued at $101,520,000 after acquiring an additional 19,504 shares during the last quarter. Morgan Stanley boosted its stake in Ubiquiti by 7.7% in the fourth quarter. Morgan Stanley now owns 102,022 shares of the company’s stock valued at $56,454,000 after acquiring an additional 7,338 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Ubiquiti by 16.2% during the 4th quarter. Capital World Investors now owns 100,056 shares of the company’s stock valued at $55,366,000 after acquiring an additional 13,970 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Price Performance

UI opened at $586.09 on Wednesday. The firm has a market capitalization of $35.48 billion, a P/E ratio of 36.98 and a beta of 1.31. Ubiquiti Inc. has a one year low of $505.73 and a one year high of $1,099.99. The company has a fifty day moving average price of $554.02 and a 200-day moving average price of $688.28.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.70. The company had revenue of $937.32 million for the quarter, compared to the consensus estimate of $850.50 million. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.During the same quarter last year, the business posted $4.41 earnings per share. On average, analysts expect that Ubiquiti Inc. will post 15.53 earnings per share for the current year.

Ubiquiti Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st will be paid a $1.00 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a yield of 0.7%. This is an increase from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s dividend payout ratio is currently 25.24%.

Wall Street Analyst Weigh In

UI has been the topic of a number of research reports. Weiss Ratings cut shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Barclays reduced their price objective on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a report on Monday, August 24th. Zacks Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. Finally, BWS Financial restated a “buy” rating and issued a $980.00 target price on shares of Ubiquiti in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $734.50.

Ubiquiti Company Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.