Renaissance Technologies LLC Sells 3,920 Shares of Ubiquiti Inc. $UI

Renaissance Technologies LLC lessened its holdings in Ubiquiti Inc. (NYSE:UI) by 1.8% in the first quarter, Holdings Channel reports. The institutional investor owned 218,944 shares of the company’s stock after selling 3,920 shares during the period. Renaissance Technologies LLC’s holdings in Ubiquiti were worth $173,029,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UI. Corient Private Wealth LLC grew its holdings in Ubiquiti by 73,940.4% during the 4th quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock worth $616,193,000 after acquiring an additional 1,112,064 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Ubiquiti by 11.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 183,464 shares of the company’s stock worth $101,520,000 after buying an additional 19,504 shares during the period. Morgan Stanley lifted its holdings in Ubiquiti by 7.7% during the 4th quarter. Morgan Stanley now owns 102,022 shares of the company’s stock worth $56,454,000 after buying an additional 7,338 shares during the period. Capital World Investors grew its position in shares of Ubiquiti by 16.2% in the 4th quarter. Capital World Investors now owns 100,056 shares of the company’s stock valued at $55,366,000 after buying an additional 13,970 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Ubiquiti by 7,845.7% in the fourth quarter. M&T Bank Corp now owns 98,527 shares of the company’s stock valued at $54,520,000 after acquiring an additional 97,287 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Barclays boosted their price objective on Ubiquiti from $527.00 to $672.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. BWS Financial reiterated a “buy” rating and set a $980.00 target price on shares of Ubiquiti in a research report on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $750.67.

Ubiquiti Trading Down 0.7%

Shares of UI stock opened at $525.53 on Friday. The firm has a fifty day simple moving average of $562.09 and a two-hundred day simple moving average of $689.17. Ubiquiti Inc. has a 12 month low of $380.00 and a 12 month high of $1,099.99. The firm has a market capitalization of $31.81 billion, a PE ratio of 33.77 and a beta of 1.31.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, May 8th. The company reported $3.88 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.41). Ubiquiti had a net margin of 30.43% and a return on equity of 95.62%. The business had revenue of $788.20 million during the quarter, compared to the consensus estimate of $814.30 million. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Ubiquiti Inc. will post 14.82 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, May 18th. Ubiquiti’s dividend payout ratio (DPR) is currently 20.57%.

Ubiquiti Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.