Ubiquiti Inc. $UI Holdings Decreased by Squarepoint Ops LLC

Squarepoint Ops LLC trimmed its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 29.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,616 shares of the company’s stock after selling 6,513 shares during the period. Squarepoint Ops LLC’s holdings in Ubiquiti were worth $8,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of UI. Vision Retirement LLC purchased a new position in Ubiquiti during the first quarter valued at approximately $25,000. Quarry LP purchased a new stake in Ubiquiti in the 3rd quarter worth approximately $34,000. Compass Financial Management LLC acquired a new stake in shares of Ubiquiti during the 2nd quarter valued at $35,000. CIBC Private Wealth Group LLC grew its holdings in shares of Ubiquiti by 238.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC grew its holdings in shares of Ubiquiti by 50.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock valued at $42,000 after acquiring an additional 25 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UI. Barclays cut 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. Weiss Ratings lowered Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. BWS Financial reaffirmed a “buy” rating and set a $980.00 price target on shares of Ubiquiti in a research note on Thursday, August 27th. Finally, Zacks Research lowered Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ubiquiti currently has an average rating of “Hold” and an average price target of $734.50.

Ubiquiti Stock Performance

Shares of NYSE UI opened at $536.62 on Friday. The business’s 50-day simple moving average is $558.69 and its 200-day simple moving average is $681.08. Ubiquiti Inc. has a 52 week low of $500.23 and a 52 week high of $1,099.99. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 33.86 and a beta of 1.31.

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

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors 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 yield of 0.7%. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, August 31st. Ubiquiti’s dividend payout ratio (DPR) is 25.24%.

About Ubiquiti

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, gateways, switches, security cameras, access-control systems and network management software.

The company markets its products through several technology platforms and brands, including UniFi for enterprise and small-business networking, and airMAX, LTU and related products for wireless internet service providers. Ubiquiti also offers consumer-focused networking products under the AmpliFi brand and operates software and services designed to help customers manage their networks.

Founded in 2003 by Robert Pera, Ubiquiti serves customers internationally through distributors, online channels and other sales partners.