Empowered Funds LLC Purchases New Position in Ubiquiti Networks Inc (UBNT)
Empowered Funds LLC purchased a new position in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,965 shares of the Wireless communications provider’s stock, valued at approximately $1,492,000.
Several other institutional investors have also modified their holdings of UBNT. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Ubiquiti Networks during the 1st quarter worth $28,000. CENTRAL TRUST Co raised its position in shares of Ubiquiti Networks by 700.0% in the 1st quarter. CENTRAL TRUST Co now owns 200 shares of the Wireless communications provider’s stock worth $30,000 after buying an additional 175 shares during the period. Enlightenment Research LLC purchased a new position in shares of Ubiquiti Networks in the 4th quarter worth $80,000. Bremer Trust National Association purchased a new position in shares of Ubiquiti Networks in the 4th quarter worth $80,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Ubiquiti Networks in the 4th quarter worth $99,000. 20.87% of the stock is currently owned by institutional investors.
UBNT has been the topic of several research reports. ValuEngine raised Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 8th. BidaskClub lowered Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. BMO Capital Markets increased their target price on Ubiquiti Networks from $99.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, February 11th. Credit Suisse Group increased their target price on Ubiquiti Networks from $86.00 to $103.00 and gave the stock a “neutral” rating in a research report on Monday, February 11th. Finally, Deutsche Bank increased their target price on Ubiquiti Networks from $67.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, February 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $100.60.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Friday, May 10th. The Wireless communications provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.16. Ubiquiti Networks had a return on equity of 152.60% and a net margin of 28.11%. The firm had revenue of $284.90 million during the quarter, compared to the consensus estimate of $285.96 million. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts forecast that Ubiquiti Networks Inc will post 4.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 0.83%. Ubiquiti Networks’s dividend payout ratio is currently 27.32%.
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About Ubiquiti Networks
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
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