Sequoia Financial Advisors LLC Takes $232,000 Position in Ubiquiti Inc. $UI

Sequoia Financial Advisors LLC bought a new stake in shares of Ubiquiti Inc. (NYSE:UI) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 563 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Ubiquiti during the 1st quarter valued at approximately $25,000. Brooklyn Investment Group increased its holdings in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Main Street Group LTD purchased a new position in shares of Ubiquiti during the 2nd quarter valued at approximately $41,000. Iron Horse Wealth Management LLC purchased a new stake in Ubiquiti in the 2nd quarter worth $54,000. Finally, GAMMA Investing LLC increased its holdings in Ubiquiti by 20.5% in the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock worth $65,000 after acquiring an additional 27 shares in the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 3.5%

Shares of UI opened at $715.63 on Friday. Ubiquiti Inc. has a 52-week low of $245.00 and a 52-week high of $773.95. The firm’s fifty day moving average is $609.22 and its two-hundred day moving average is $466.26. The stock has a market cap of $43.29 billion, a PE ratio of 60.80 and a beta of 1.44.

Ubiquiti (NYSE:UI) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $618.80 million. During the same quarter in the previous year, the company posted $1.74 EPS. As a group, research analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

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

Analyst Ratings Changes

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