Ieq Capital LLC Has $1.46 Million Position in Ubiquiti Inc. $UI

Ieq Capital LLC reduced its stake in shares of Ubiquiti Inc. (NYSE:UI) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,698 shares of the company’s stock after selling 867 shares during the quarter. Ieq Capital LLC’s holdings in Ubiquiti were worth $1,457,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UI. Golden State Wealth Management LLC acquired a new position in Ubiquiti during the first quarter worth $25,000. Brooklyn Investment Group grew its holdings in shares of Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock worth $29,000 after purchasing an additional 41 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Ubiquiti during the fourth quarter worth $74,000. Finally, AlphaQuest LLC grew its holdings in shares of Ubiquiti by 14,300.0% during the first quarter. AlphaQuest LLC now owns 288 shares of the company’s stock worth $89,000 after purchasing an additional 286 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Stock Down 0.5%

Shares of UI stock opened at $529.38 on Tuesday. The stock has a 50-day moving average price of $441.19 and a 200 day moving average price of $379.50. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 44.98 and a beta of 1.42. Ubiquiti Inc. has a 12 month low of $186.40 and a 12 month high of $543.99.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.31. The firm had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same period last year, the company earned $1.74 earnings per share. Sell-side analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Tuesday, September 2nd will be given a $0.80 dividend. The ex-dividend date is 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 0.6%. Ubiquiti’s dividend payout ratio is 20.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. BWS Financial increased their target price on Ubiquiti from $440.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 25th. UBS Group set a $600.00 target price on Ubiquiti in a report on Monday, August 25th. Finally, Barclays increased their target price on Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $499.67.

Ubiquiti 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.