The Manufacturers Life Insurance Company Buys New Stake in Ubiquiti Inc. $UI

The Manufacturers Life Insurance Company purchased a new position in shares of Ubiquiti Inc. (NYSE:UI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 983 shares of the company’s stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UI. Goldman Sachs Group Inc. boosted its stake in shares of Ubiquiti by 33.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company’s stock worth $10,494,000 after acquiring an additional 8,551 shares in the last quarter. Woodline Partners LP increased its stake in shares of Ubiquiti by 22.1% in the 1st quarter. Woodline Partners LP now owns 1,214 shares of the company’s stock valued at $377,000 after purchasing an additional 220 shares in the last quarter. Jane Street Group LLC raised its holdings in Ubiquiti by 12.9% in the 1st quarter. Jane Street Group LLC now owns 13,768 shares of the company’s stock worth $4,270,000 after purchasing an additional 1,570 shares during the period. Cetera Investment Advisers purchased a new position in Ubiquiti during the second quarter worth approximately $312,000. Finally, Legal & General Group Plc boosted its position in Ubiquiti by 23.2% during the second quarter. Legal & General Group Plc now owns 792 shares of the company’s stock worth $326,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent analyst reports. Zacks Research cut Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. BWS Financial reissued a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research note on Thursday, August 27th. Barclays cut their price target on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a report on Monday, August 24th. Finally, Weiss Ratings cut shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $734.50.

Ubiquiti Stock Performance

NYSE UI opened at $578.00 on Monday. The business has a fifty day moving average price of $557.16 and a 200 day moving average price of $685.70. The company has a market cap of $34.99 billion, a P/E ratio of 36.47 and a beta of 1.31. Ubiquiti Inc. has a one year low of $505.73 and a one year high of $1,099.99.

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

Ubiquiti Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 31st will be given a dividend of $1.00 per share. The ex-dividend date is Monday, August 31st. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. This represents a $4.00 dividend on an annualized basis and a yield of 0.7%. Ubiquiti’s dividend payout ratio (DPR) is presently 25.24%.

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.