Aviva PLC Purchases New Shares in Ubiquiti Inc. (NYSE:UI)

Aviva PLC purchased a new stake in Ubiquiti Inc. (NYSE:UI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,242 shares of the company’s stock, valued at approximately $1,862,000.

Several other large investors also recently added to or reduced their stakes in UI. FMR LLC lifted its stake in Ubiquiti by 34.7% in the 1st quarter. FMR LLC now owns 71,225 shares of the company’s stock worth $10,663,000 after acquiring an additional 18,361 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Ubiquiti in the 1st quarter worth about $659,000. State of Wisconsin Investment Board purchased a new stake in Ubiquiti in the 4th quarter worth about $299,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Ubiquiti in the 4th quarter worth about $622,000. Finally, Los Angeles Capital Management LLC lifted its stake in Ubiquiti by 2.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 3,082 shares of the company’s stock worth $858,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 6.75% of the company’s stock.

UI has been the subject of a number of recent research reports. Credit Suisse Group cut their price target on Ubiquiti from $157.00 to $126.00 and set an “underperform” rating for the company in a research note on Thursday, April 1st. TheStreet downgraded Ubiquiti from a “b” rating to a “c+” rating in a research note on Monday, April 5th. Finally, Zacks Investment Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating and set a $295.00 price target for the company. in a research note on Tuesday, April 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $241.25.

UI opened at $302.45 on Friday. The firm has a market cap of $19.00 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 0.95 and a beta of 1.38. The firm has a 50 day simple moving average of $293.59. Ubiquiti Inc. has a 12-month low of $150.75 and a 12-month high of $401.80.

Ubiquiti (NYSE:UI) last released its earnings results on Monday, May 10th. The company reported $2.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.31 by ($0.01). The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $435.73 million. Ubiquiti had a net margin of 31.97% and a negative return on equity of 277.26%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the business earned $1.61 EPS. Sell-side analysts forecast that Ubiquiti Inc. will post 10.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 24th. Stockholders of record on Monday, May 17th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, May 14th. Ubiquiti’s payout ratio is presently 27.07%.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. It develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its 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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Institutional Ownership by Quarter for Ubiquiti (NYSE:UI)

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