Milestone Asset Management LLC Acquires 1,007 Shares of Ubiquiti Inc. $UI

Milestone Asset Management LLC increased its holdings in Ubiquiti Inc. (NYSE:UI) by 78.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,283 shares of the company’s stock after acquiring an additional 1,007 shares during the quarter. Milestone Asset Management LLC’s holdings in Ubiquiti were worth $1,296,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE acquired a new stake in Ubiquiti in the second quarter valued at about $17,647,000. Diversify Advisory Services LLC purchased a new stake in Ubiquiti in the 2nd quarter valued at approximately $1,526,000. Militia Capital Management LLC acquired a new position in Ubiquiti during the 1st quarter worth approximately $1,581,000. Deutsche Bank AG acquired a new position in Ubiquiti during the 2nd quarter worth approximately $12,832,000. Finally, Canada Pension Plan Investment Board acquired a new position in Ubiquiti during the 2nd quarter worth approximately $19,140,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UI. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. BWS Financial restated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research note on Tuesday, September 29th. Weiss Ratings raised Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Barclays dropped their price objective on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $734.50.

Ubiquiti Stock Up 2.1%

Shares of NYSE UI opened at $618.29 on Friday. Ubiquiti Inc. has a 52 week low of $500.23 and a 52 week high of $1,099.99. The firm has a 50-day moving average price of $585.05 and a 200 day moving average price of $649.00. The stock has a market capitalization of $37.43 billion, a price-to-earnings ratio of 39.01 and a beta of 1.30.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 21st. The company reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.70. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. The firm had revenue of $937.32 million for the quarter, compared to the consensus estimate of $850.50 million. During the same quarter in the previous year, the firm earned $4.41 earnings per share. Equities research analysts expect that Ubiquiti Inc. will post 16.94 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, August 31st. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s payout ratio is 25.24%.

About Ubiquiti

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.