Navellier & Associates Inc. Decreases Holdings in Ubiquiti Inc. $UI

Navellier & Associates Inc. lessened its stake in Ubiquiti Inc. (NYSE:UI) by 37.4% during the second quarter, HoldingsChannel reports. The firm owned 13,120 shares of the company’s stock after selling 7,850 shares during the period. Navellier & Associates Inc.’s holdings in Ubiquiti were worth $7,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vision Retirement LLC bought a new stake in shares of Ubiquiti during the 1st quarter valued at $25,000. Quarry LP bought a new position in Ubiquiti in the 3rd quarter worth about $34,000. Compass Financial Management LLC bought a new position in Ubiquiti in the 2nd quarter worth about $35,000. CIBC Private Wealth Group LLC raised its stake in Ubiquiti by 238.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC increased its stake in Ubiquiti by 50.0% in the fourth 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 during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UI. Weiss Ratings cut shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Zacks Research lowered Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. BWS Financial restated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research note on Thursday. Finally, Barclays reduced their price objective on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a research report on Monday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $734.50.

Ubiquiti Trading Up 1.4%

Shares of Ubiquiti stock opened at $601.03 on Friday. The stock has a 50 day moving average of $553.37 and a 200 day moving average of $690.24. Ubiquiti Inc. has a 12 month low of $505.73 and a 12 month high of $1,099.99. The firm has a market cap of $36.38 billion, a PE ratio of 37.92 and a beta of 1.31.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results 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 company had revenue of $937.32 million for the quarter, compared to analysts’ expectations of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter in the previous year, the business posted $4.41 earnings per share. As a group, equities research analysts forecast that Ubiquiti Inc. will post 15.53 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st will be issued a $1.00 dividend. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.7%. Ubiquiti’s dividend payout ratio (DPR) is presently 20.19%.

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.